Bronstein, Gewirtz & Grossman, LLC Announces Investigation Of Optimer Pharmaceuticals, Inc.

Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC announced that it is investigating potential claims on behalf of purchasers of the securities of Optimer Pharmaceuticals, Inc., concerning whether Optimer and certain of its officers and directors have violated federal securities laws. On April 9, 2012, shares of Optimer fell 7% to $13.35 in midday trading after firing its chairman, CFO and a vice president citing lapses in corporate governance practices related to Optimer's relationship with its Taiwanese affiliate. The maker of diarrhea drug Dificid, removed its co-founder/chairman Michael Chang for his actions as Optimer's representative on the board of Optimer Biotechnology Inc (OBI), its 43% owned independent affiliate based in Taiwan. Dr. Chang was removed from the chairmanship because he failed to identify and effectively manage compliance, record keeping and conflict of interest issues in connection to a grant of 1.5 million shares he received from a Taiwanese affiliate, Optimer said. CFO John Prunty and Youe-Kong Shue, a vice president, were let go because they failed to follow the proper procedures after finding out about the grant, Optimer said. Optimer said it has disclosed the matter to the relevant U.S. authorities and is cooperating with them in their review.