The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of investors who purchased common stock of Star Scientific, Inc. ("STSI") (NASDAQ: STSI) from May 14, 2012, to January 22, 2013, seeking remedies under the federal securities laws.
If you purchased stock before January 22, 2013 and wish to join the STSI class action, please visit the firm's website at http://www.rosenlegal.com, or call Jonathan Horne, Esq., toll-free, at 866-767-3653; you may also email email@example.com for information on the class action. The case is pending the U.S. District Court for the District of Massachusetts.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
Throughout the course of 2012, STSI had been touting its relationship with Johns Hopkins University, who was purportedly conducting studies relating to STSI's product, Anatabloc. For example, a press release dated June 27, 2012 stated that research had been conducted by "[t]he independently funded research team at Johns Hopkins [....]" In a Press Release dated January 7, 2013 announcing the results of STSI's clinical trials, STSI quoted Dr. Paul Ladenson of Johns Hopkins University, but omitted mention of Johns Hopkins University.
On January 23, 2013, TheStreet.com published an article refuting claims that John’s Hopkins was conducting clinical trials with STSI. In the article, a Johns Hopkins spokesperson is quoted as responding to Star Scientific's claim that it was conducting a study with Johns Hopkins by stating: "We do have guidelines about such things and he [Ladenson] is in violation here." The Johns Hopkins spokesperson purportedly added that Johns Hopkins had started an inquiry into the conduct. As a result of this adverse news, the price of STSI stock fell on January 23, 2013, damaging investors. On March 18, 2013, Star Scientific filed its 10-K for 2012, in which it announced that it and its personnel had received subpoenas from the U.S. Attorney's Office.
If you wish to serve as lead plaintiff, you must move the Court no later than May 24, 2013. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Jonathan Horne, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at firstname.lastname@example.org. You may also visit the firm's website at http://www.rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.