A lawsuit was filed by a current investor in shares of Hemispherx BioPharma, Inc (NYSEAMEX:HEB) over alleged breaches of fiduciary duty by certain directors and NYSEAMEX:HEB stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com
San Diego, CA -- (SBWIRE) -- 05/01/2013 -- An investor in shares of Hemispherx BioPharma, Inc (NYSEAMEX:HEB) filed a lawsuit against certain officers and directors over alleged breaches of fiduciary duties in connection with certain statements made in regards to Hemispherx BioPharma’s new drug Ampligen.
Investors who are current long term stockholders in Hemispherx BioPharma, Inc (NYSEAMEX:HEB) shares, have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
The plaintiff alleges that the defendants misrepresented the safety and efficacy of the Ampligen and overstated its prospects approval by the U.S. Food and Drug Administration. The plaintiff claims that certain defendants concealed problems with the clinical trials and continued to publicly tout positive results for Ampligen.
On March 19, 2012, Hemispherx BioPharma published data on the bioactivity of its drug Ampligen in Chronic Fatigue Syndrome.
On July 11, 2012, Hemispherx BioPharma, Inc announced that Hemispherx Biopharma and the FDA reached an agreement on the filing requirements for Hemispherx BioPharma’s Complete Response in Support of Ampligen® New Drug Application for Chronic Fatigue Syndrome Treatment.
Shares of Hemispherx BioPharma, Inc (NYSEAMEX:HEB) increased from as low as $0.325 in mid-March 2012 to as high as $1.00 per share in late September 2012.
Then on December 20, 2012, the Arthritis Advisory Committee (the “AAC”) of the U.S. Food and Drug Administration (the “FDA”) rejected Hemispherx Biopharma's Ampligen for Chronic Fatigue Syndrome. Among other things, the advisory panel said a proposed medicine from Hemispherx Biopharma Inc. isn't ready for marketing.
Shares of Hemispherx BioPharma, Inc (NYSEAMEX:HEB) declined from $0.64 per share on Dec. 17, 2012, to as low as $0.19 on March 28, 2013.
On April 30, 2013, NYSEAMEX:HEB shares closed at $0.215 per share.
Those who are current long term investors in Hemispherx BioPharma, Inc (NYSEAMEX:HEB) shares, have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com