Source: Marketwire
Date: October 10, 2009
URL:
http://finance.yahoo.com/news/Dyer-Berens-LLP-Files-Class-iw-3167739232.html
Dyer & Berens LLP files class action lawsuit against Hemispherx
Biopharma, Inc. - HEB
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DENVER, CO--(Marketwire - 11/10/09) - Dyer & Berens LLP
(http://www.DyerBerens.com ) today announced that it has filed a
class action lawsuit in the United States District Court for the
Eastern District of Pennsylvania, Civil Action No. 09-cv-5262, on
behalf of all purchasers of the securities of Hemispherx Biopharma,
Inc. ("Hemispherx" or the "Company") (AMEX:HEB - News) between
February 18, 2009 and October 30, 2009 (the "Class Period"), for
violations of the federal Securities Exchange Act of 1934.
If you wish to serve as a lead plaintiff, you must move the court
no later than 60 days from today. If you wish to discuss this action
or have any questions concerning this notice or your rights or
interests, please contact plaintiff's counsel, Jeffrey A. Berens,
Esq., at (888) 300-3362, (303) 861-1764, or via email at
jeff@dyerberens.com. Any member of the putative class may move the
court to serve as lead plaintiff through counsel of their choice,
or may choose to do nothing and remain an absent class member.
The complaint alleges that, during the Class Period, defendants
misled investors regarding the status of Hemispherx's New Drug
Application ("NDA") for Ampligen with the U.S. Food and Drug
Administration ("FDA"). Specifically, defendants failed to disclose
and misrepresented the fact 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. On November 2, 2009, when the Company belatedly
disclosed this information, the per share price of Hemispherx's
common stock dropped from $1.45 on the previous day to $1.13, a
drop of more than 20%. The next day, one commenter characterized
the November 2nd Company "update" as essentially an admission
"that its prior public statements were false and misleading."
Plaintiff seeks to recover damages on behalf of Hemispherx
investors. The plaintiff is represented by Dyer & Berens LLP,
which has expertise in prosecuting investor class actions
involving financial fraud. The firm's extensive experience in
securities litigation, particularly in cases brought under the
Private Securities Litigation Reform Act, has contributed to the
recovery of hundreds of millions of dollars for aggrieved
investors. For more information about the firm, please go to
http://www.DyerBerens.com .
Contact
Jeffrey A. Berens
Dyer & Berens LLP
682 Grant Street
Denver, CO 80203
Tel: (888) 300-3362 or (303) 861-1764
Email: http://www2.marketwire.com/mw/emailprcntct?id=ED5F02C3E890471B
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(c) 2009 Marketwire
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