Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Hemispherx Biopharma, Inc.
BALTIMORE, MD, Nov 14 (MARKET WIRE) --
Brower Piven, A Professional Corporation announces that a class action
lawsuit has been commenced in the United States District Court for the
Eastern District of Pennsylvania on behalf of purchasers of the
securities of Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company")
(AMEX: HEB) during the period between February 18, 2009 and October 30,
2009, inclusive (the "Class Period").
No class has yet been certified in the above action. Members of the Class
will be represented by the lead plaintiff and counsel chosen by the lead
plaintiff. If you wish to choose counsel to represent you and the Class,
you must apply to be appointed lead plaintiff no later than January 11,
2010 and be selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether to
accept a settlement and how much of a settlement to accept for the Class
in the action. The lead plaintiff will be selected from among applicants
claiming the largest loss from investment in the Company during the Class
Period. You are not required to have sold your shares to seek damages or
to serve as a Lead Plaintiff. You may contact Brower Piven (through
hoffman@browerpiven.com or 410/986-0036) to answer any questions you may
have in that regard.
The complaint accuses the defendants of violations of the Securities
Exchange Act of 1934 by virtue of the Company's failure to disclose during
the Class Period that the FDA had requested several reports from the
Company before a New Drug Application for Ampligen could even be
considered, thus delaying the possible approval of Ampligen by several
months at a minimum. According to the complaint, on November 2, 2009,
after the Company belatedly disclosed this information, the value of
Hemispherx's stock declined significantly.
If you have suffered a net loss for all transactions in Hemispherx
Biopharma, Inc. securities during the Class Period (including shares or
possibly calls purchased during, but not sold until after the end of the
Class Period or possibly put options sold but not covered until after the
end of the Class Period), you may obtain additional information about this
lawsuit and your ability to become a lead plaintiff by contacting Brower
Piven at www.browerpiven.com, by email at hoffman@browerpiven.com, by
calling 410-986-0036, or at Brower Piven, A Professional Corporation, The
World Trade Center-Baltimore, 401 East Pratt Street, Suite 2525,
Baltimore, Maryland 21202. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 40 years.
If you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other counsel of
your choice. You need take no action at this time to be a member of the
class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
Baltimore, Maryland
410/986-0036
Email Contact
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