San Diego, CA -- (SBWIRE) -- 06/05/2012 -- A deadline is coming up on June 22, 2012 in the lawsuit filed for investors in NASDAQ:NGSX shares over alleged securities laws violations by NeurogesX, Inc.
Investors with a substantial investment in NASDAQ:NGSX shares between May 9, 2011 and September 27, 2011,, should get active before the Deadline that is coming up on June 22, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that NeurogesX’ Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of Dr. Jeffrey K. Tobias, the Company's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX, including Dr. Jeffrey K. Tobias himself, failed to disclose and/or actively concealed the fact that Dr. Jeffrey K. Tobias was seeking other employment and as a result of the aforementioned allegations, NeurogesX's stock traded at artificially high prices.
On September 27, 2011, NeurogesX, Inc announced Dr. Jeffrey K. Tobias ' resignation.
NASDAQ:NGSX shares lost substantial in value and closed on May 16, 2012 as low as $0.32 per share.
Those who purchased shares of NeurogesX, Inc (NASDAQ:NGSX), have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego