Date: November 12, 2009
URL: =20
http://finance.yahoo.com/news/Izard-Nobel-LLP-Announces-iw-68919281.html
Izard Nobel LLP announces class action lawsuit against Hemispherx
Biopharma, Inc.
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WEST HARTFORD, CT--(Marketwire - 11/12/09) - The law firm of Izard Nobel
LLP, which has significant experience representing investors in
prosecuting claims of securities fraud, announces that a lawsuit seeking
class action status has been filed in the United States District Court
for the Eastern District of Pennsylvania on behalf of those who purchased
the securities of Hemispherx Biopharma, Inc. ("Hemispherx" or the
"Company") (AMEX:HEB - News) between February 18, 2009 and October 30,
2009 (the "Class Period").
The Complaint charges that defendants violated the federal securities
laws. It is alleged in the Complaint that defendants misled investors
regarding the status of Hemispherx's New Drug Application ("NDA") for
its drug 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 Hemispherx belatedly disclosed
this information, the price of the Company's securities fell 20% to close
at $1.13 on the next trading day, November 3, 2009.
If you are a member of the class, you may, no later than January 11,
2010, request that the Court appoint you as lead plaintiff of the class.
A lead plaintiff is a class member that acts on behalf of other class
members in directing the litigation. Although your ability to share in
any recovery is not affected by the decision whether or not to seek
appointment as a lead plaintiff, lead plaintiffs make important
decisions which could affect the overall recovery for class members.
While Izard Nobel LLP has not filed a lawsuit against the defendants, to
view a copy of the Complaint initiating the class action or for more
information about the case, and your rights, visit:
http://www.izardnobel.com/hemispherxbiopharma/ , or contact Izard Nobel
LLP toll-free: (800) 797-5499, or by e-mail: firm@izardnobel.com. For
more information about class action cases in general, please visit our
website: http://www.izardnobel.com.
Contact
Nancy A. Kulesa or Wayne Boulton
http://www2.marketwire.com/mw/emailprcntct?id=3D467788C4DDB19A8C
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(c) 2009 MarketWire
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