NEW YORK, Dec. 24, 2012 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that a class action lawsuit has been filed on behalf of investors who purchased the securities of Hemispherx Biopharma, Inc., (NYSE:HEB) from March 19, 2012 through December 17, 2012.
To join the Hemispherx class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com for information on the class action.
The Complaint asserts violations of the federal securities laws against Hemispherx and its officers and directors for issuing false and misleading information about its lead drug candidate Ampligen. Specifically, that Hemispherx misstated the safety and efficacy of Ampligen, and touted purportedly positive results from Ampligen's clinical trials.
On December 18, 2012, the FDA published a staff report concluding that the Company's studies were "ill-defined and invalid" with signals of efficacy that were inconsistent between clinical trials, and based on the limited quality of the data, "it is difficult to draw conclusions regarding potential safety signals," but the "review identified nine potential safety concerns associated with Ampligen." The Complaint alleges that as a result of this adverse information, Hemispherx stock price dropped and investors have been damaged.
If you wish to serve as lead plaintiff, you must move the Court no later than February 22, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.