SOURCE: Rosen Law Firm, PA

December 02, 2009 12:22 ET

Rosen Law Firm Announces Class Action Lawsuit Against Hemispherx Biopharma, Inc.

NEW YORK, NY--(Marketwire - December 2, 2009) - The Rosen Law Firm, P.A. announces that a class action lawsuit has been filed on behalf of all purchasers of Hemispherx Biopharma Inc. ("Hemispherx") (NYSE Amex: HEB) securities between February 18, 2009 and October 30, 2009, inclusive (the "Class Period").

To join the Hemispherx class action, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The case is pending in the United States District Court for the Eastern District of Pennsylvania.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY ALSO RETAIN COUNSEL OF YOUR CHOICE.

The Complaint alleges that during the Class Period, defendants misled investors regarding the status and time frame for approval 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%. The lawsuit seeks to recover damages for investors resulting from the drop in the share price related to the alleged fraud.

A class action lawsuit has already been filed on behalf of Hemispherx shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than January 11, 2010. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm represents investors throughout the world, focusing its practice in securities class actions and shareholder derivative litigation. Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information

  • Contact Information:

    Laurence Rosen, Esq.
    Phillip Kim, Esq.

    The Rosen Law Firm P.A.
    350 5th Avenue, Suite 5508
    New York, New York 10118
    Tel: (212) 686-1060
    Weekends Tel: (917) 797-4425
    Toll Free: 1-866-767-3653
    Fax: (212) 202-3827
    Email Contact
    Email Contact
    www.rosenlegal.com