San Diego, CA -- (SBWire) -- 03/13/2013 --An investigation on behalf of investors of Star Scientific, Inc. (NASDAQ:STSI) shares over potential securities laws violations by Star Scientific, Inc. and certain of its directors and officers in connection certain financial statements was announced.
Investors who purchased shares of Star Scientific, Inc. (NASDAQ:STSI), have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Star Scientific, Inc. (NASDAQ:STSI) concerning whether a series of statements by Star Scientific, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Star Scientific, Inc. (NASDAQ:STSI) reported that its annual Total Revenue increased from $0.85 million in 2010 to $1.72 million in 2011, while its Net Loss increased from $28.28 million in 2010 to $37.99 million in 2011.
Shares of Star Scientific, Inc. (NASDAQ:STSI) rose from $2.29 per share in January 2012 to as high as $4.85 per share in July 2012. However, since then NASDAQ:STSI shares declined to as low as $1.76 per share in November 2012.
Then on January 23, 2012, a report was published that alleged that Star Scientific, Inc. misled investors about the involvement of Johns Hopkins University in the clinical testing of the company's retail nutritional supplement anatabine.
On Jan 28, 2013, Star Scientific, Inc. commented on the report from January 23, 2013. Star Scientific, Inc. said that the report contained numerous false and misleading statements regarding the Company's anatabine research and the initial results of the ASAP Human Thyroid Health Study released by Star Scientific on January 7, 2013.
Shares of Star Scientific, Inc. (NASDAQ:STSI) declined from $2.95 per share in early January 2013 to as low as $1.738 on March 1, 2013.
On March 12, 2013, NASDAQ:STSI shares closed at $2.05 per share, which is less than half its current 52 week High of $5.05 per share.
Those who purchased shares of Star Scientific, Inc. (NASDAQ:STSI), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
NASDAQ:STSI Investor Notice: Investigation of Star Scientific, Inc.
An investigation for investors in Star Scientific, Inc. (NASDAQ:STSI) shares over potential securities laws violations by Star Scientific, Inc. was announced and NASDAQ:STSI stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com