|By PR Newswire||
|December 28, 2012 08:05 PM EST||
NEW YORK, Dec. 28, 2012 /PRNewswire/ -- Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential securities fraud at Hemispherx Biopharma, Inc. ("Hemispherx" or the "Company") (NYSE: HEB).
The investigation focuses on whether the Company and its executives violated federal securities laws by issuing a series of materially false and misleading statements regarding the efficacy of Hemispherx's lead product, Ampligen(R) ("Ampligen"), a drug intended for the treatment of Myalgic Encephalomylitis/Chronic Fatigue Syndrome.
On December 18, 2012, the FDA published a Staff Report concerning Ampligen's safety and efficacy. The report concluded that the Company's studies were "ill-defined and invalid" with signals of efficacy that were inconsistent between clinical trials, and based on the limited quality of the data, "it is difficult to draw conclusions regarding potential safety signals," but the "review identified nine potential safety concerns associated with Ampligen." As a result of this disclosure, Hemispherx shares declined $0.276 per share or nearly 43%, to close at $0.368 per share on December 18, 2012.
Request more information now by clicking here: www.faruqilaw.com/HEB. There is no cost or obligation to you.
If you purchased Hemispherx stock or options and would like to discuss your legal rights, visit www.faruqilaw.com/HEB. You can also contact us by calling Richard Gonnello or Francis McConville toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org or email@example.com. Faruqi & Faruqi, LLP also encourages anyone with information regarding Hemispherx's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Francis McConville, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
SOURCE Faruqi & Faruqi, LLP
- "All It Took Was One E-Mail to Larry," Says Former eBay Research Director As He Moves to Google
- Google Ramps Up Its Mobile Reach: Launches "Mobile Web Search"
- Ericsson + Napster = World's First "Wireless Digital Music" Brand
- VoIP Update: Yahoo! Buys DialPad
- Free Guest Passes for the SOA World Conference & Expo in NYC
- SYS-CON i-Technology Podcast August 30, 2005
- A Flair for Food - Health-Conscious Cooking Is This Chef's Cup Of Tea
- Sony PSP May Feature Porn
- Kapow Helps Seiko UK, Provides SMS Text-Alert Services
- Will the Mac OS Now Be Offered by Dell?