SOURCE: Izard Nobel LLP

November 12, 2009 16:37 ET

Izard Nobel LLP Announces Class Action Lawsuit Against Hemispherx Biopharma, Inc.

WEST HARTFORD, CT--(Marketwire - November 12, 2009) - 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) 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: 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: www.izardnobel.com.

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