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BENSALEM, Pa., Jan 07, 2010 (BUSINESS WIRE) -- Law Offices of Howard G. Smith announces that it is investigating potential claims against Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company") (AMEX:HEB) concerning possible breaches of fiduciary duty and/or other violations of law by the Hemispherx board of directors, related to public statements issued by Hemispherx concerning the status of the Company's New Drug Application ("NDA") filed with the U.S. Food and Drug Administration ("FDA") for marketing approval for Ampligen -- an experimental drug undergoing clinical development for the treatment of chronic fatigue syndrome.
According to a shareholder lawsuit filed November 10, 2009, in the United States District Court for the Eastern District of Pennsylvania against Hemispherx and its chief executive officer, the defendants failed to disclose and misrepresented 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 at least several months.
On November 2, 2009, the Company belatedly disclosed this information, causing Hemispherx's common stock to decline approximately 20% from the previous day's closing price of $1.45 per share, to close on November 3, 2009, at $1.13 per share.
If you own shares of Hemispherx, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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According to a shareholder lawsuit filed November 10, 2009, in the United States District Court for the Eastern District of Pennsylvania against Hemispherx and its chief executive officer, the defendants failed to disclose and misrepresented 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 at least several months.
On November 2, 2009, the Company belatedly disclosed this information, causing Hemispherx's common stock to decline approximately 20% from the previous day's closing price of $1.45 per share, to close on November 3, 2009, at $1.13 per share.
If you own shares of Hemispherx, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
www.pinksheets.com/pink/quote/quote.jsp?symbol=heb
