Date: November 11, 2009
URL: =20
http://www.reuters.com/article/pressRelease/idUS198174+11-Nov-2009+GNW200911=
11
Law offices Bernard M. Gross, P.C. filed a class action lawsuit
against Hemispherx Biopharma, Inc.
---------------------------------------------------------------
PHILADELPHIA, Nov. 11, 2009 (GLOBE NEWSWIRE) -- Law Offices Bernard
M. Gross, P.C. commenced a class action lawsuit in the United States
District Court, Eastern District of Pennsylvania, 09cv5262, on behalf
of purchasers of the securities of Hemispherx Biopharma, Inc.
("Hemispherx" or the "Company")(AMEX:HEB) between February 18, 2009
and October 30, 2009, inclusive (the "Class Period"), seeking to
pursue remedies under the Securities Exchange Act of 1934. The action
is pending before the Honorable Paul Diamond. If you wish to serve as
lead plaintiff, you must move the Court no later than 60 days from
November 10, 2009. If you wish to discuss this action or have any
questions concerning this notice or your rights or interests, please
contact plaintiff's counsel, Deborah R. Gross or Susan R. Gross at
866-561-3600 or 215-561-3600 or via email at debbie@bernardmgross.com
or susang@bernardmgross.com. Any member of the purported class may
move the Court to serve as lead plaintiff through counsel of its
choice, or may choose to do nothing and remain an absent class
member. A copy of the complaint is available from the Court or can be
viewed on the Law Offices Bernard M. Gross, P.C. website at
http://www.bernardmgross.com.
Hemispherx is a biopharmaceutical company engaged in the clinical
development, manufacture, marketing and distribution of new drug
therapies based on natural immune system enhancing technologies for
the treatment of viral and immune-based chronic disorders. The
Company's products include Ampligen, an experimental drug undergoing
clinical development for the treatment of chronic fatigue syndrome.
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 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%.
Plaintiff seeks to recover damages on behalf of all persons who
purchased the securities of Hemispherx Biopharma, Inc. between February
18, 2009 and October 30, 2009, inclusive. The plaintiff is represented
by Law Offices Bernard M. Gross P.C. The firm has expertise in
prosecuting investor class actions and extensive experience in actions
involving financial fraud.
If you wish to discuss this action or have any questions concerning
this Notice or rights or interests with respect to these matters,
Please contact:
Law Offices Bernard M. Gross, P.C.
Susan R. Gross, Esq.
Deborah R. Gross, Esq.
Telephone: 866-561-3600 (toll free) or 215-561-3600
E-mail: susang@bernardmgross.com or
debbie@bernardmgross.com.
Website: http://www.bernardmgross.com
--------
(c) 2009 Globe Newswire
---------------------------------------------
Send posts to CO-CURE@listserv.nodak.edu
Unsubscribe at http://www.co-cure.org/unsub.htm
Too much mail? Try a digest version. See http://www.co-cure.org/digest.htm
---------------------------------------------
Co-Cure's purpose is to provide information from across the spectrum of
opinion concerning medical, research and political aspects of ME/CFS and/or
FMS. We take no position on the validity of any specific scientific or
political opinion expressed in Co-Cure posts, and we urge readers to
research the various opinions available before assuming any one
interpretation is definitive. The Co-Cure website <www.co-cure.org> has a
link to our complete archive of posts as well as articles of central
importance to the issues of our community.
---------------------------------------------
