SOURCE: Holzer Holzer & Fistel, LLC

Holzer Holzer & Fistel, LLC

March 07, 2012 11:34 ET

Holzer Holzer & Fistel, LLC Announces a Class Action Lawsuit Has Been Filed on Behalf of Investors in BioSante Pharmaceuticals, Inc; Encourages Investors With Large Losses to Inquire About Lead Plaintiff Position

ATLANTA, GA--(Marketwire - Mar 7, 2012) - Holzer Holzer & Fistel, LLC announces that a class action lawsuit has been filed in the United States District Court for the Northern District of Illinois on behalf of purchasers of BioSante Pharmaceuticals, Inc. ("BioSante" or the "Company") (NASDAQ: BPAX) who purchased between February 8, 2010 and December 15, 2011, inclusive (the "Class Period"). The lawsuit alleges, among other things, that during the Class Period BioSante overstated the viability, effectiveness and market potential for its experimental drug LibiGel. On December 14, 2011, BioSante disclosed that clinical trials designed by the Company failed to yield positive results and users of LibiGel in the tests did not experience significantly better results than those receiving a placebo.

If you purchased BioSante common stock during the Class Period, you have the legal right to petition the Court to be appointed a "lead plaintiff." A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. Any such request must satisfy certain criteria and be made no later than April 6, 2012. Any member of the purported class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you are a BioSante investor and would like to discuss a potential lead plaintiff appointment, or your rights and interests with respect to the lawsuit, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at, or, or via toll-free telephone at (888) 508-6832.

Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.