Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, is notifying investors in Star Scientific, Inc. (NASDAQ:STSI) (“STSI” or “the Company”) of the filing of a securities class-action lawsuit seeking to recover losses. Investors who have suffered losses may contact the firm by emailing STSI@hbsslaw.com.
If you purchased shares of STSI common stock between Oct. 31, 2011, and March 18, 2013, inclusive (the “Class Period”), suffered significant losses and wish to be a lead plaintiff in the pending class action, you may contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000. You can also contact Mr. Kathrein by submitting information at http://www.hb-securities.com/investigations/STSI.
Investors who wish to serve as lead plaintiff in the case must move the court no later than May 24, 2013. Any investor during the Class Period may file to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
On Jan. 23, 2013, The Street published an article suggesting that STSI’s claim that John Hopkins University was involved in clinical testing of the company’s nutritional supplement anatabine was false. On March 18, 2013, STSI disclosed that it received subpoenas in January and February of 2013 from the U.S. attorney’s office and was conducting its own internal investigation into possible issues in the trading of its securities as far back as 2006.
Hagens Berman’s investigation centers around whether STSI was aware of possible issues, failed to disclose those issues as required by the securities laws, and thus issued materially false or misleading statements to investors during the class period.
Hagens Berman reminds whistleblowers with inside information that rewards may be available to individuals who report information leading to a successful enforcement action by the Securities and Exchange Commission. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC.
Hagens Berman Sobol Shapiro, LLP is an investor-rights class-action law firm with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the law firm and its successes can be found at www.hbsslaw.com. The Firm’s securities law blog is at http://www.meaningfuldisclosure.com.