Rosen Law Firm Announces Class Action Lawsuit Against Hemispherx Biopharma, Inc.
12:23pm EST
The Rosen Law Firm, P.A. announced that a class action lawsuit has been filed on behalf of all purchasers of Hemispherx Biopharma, Inc. securities between February 18, 2009 and October 30, 2009, inclusive (the Class Period). The Complaint alleges that during the Class Period, defendants misled investors regarding the status and time frame for approval of Hemispherx's New Drug Application (NDA) for Ampligen with the U.S. Food and Drug Administration (FDA). Specifically, defendants failed to disclose that the FDA had requested several reports from the Company before the NDA could even be considered, thus delaying the possible approval of Ampligen by several months at a minimum. Then, on November 2, 2009, when the Company belatedly disclosed this information, the price of Hemispherx's securities dropped from $1.45 on the previous trading day to close at $1.13 on November 3, 2009, a drop of more than 20%. The lawsuit seeks to recover damages for investors resulting from the drop in the share price related to the alleged fraud. A class action lawsuit has already been filed on behalf of Hemispherx shareholders.
Hemispherx Biopharma, Inc. (HEB) - HEB was up Thursday after the company came out with news. While there aren't really any fundamentals right now, the stock is making a technical move toward the 50 day moving average. Keep an eye on $0.82.
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发表于 2-12-2009 08:30 PM
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