LITTLE ROCK, Ark., Aug. 10, 2009 (GLOBE NEWSWIRE) -- Emerson Poynter LLP (www.emersonpoynter.com), a national law firm with offices in Little Rock, Arkansas and Houston, Texas, announces that it has filed a class action complaint, against Repros Therapeutics, Inc. (Nasdaq:RPRX) and certain of its officers and directors, on behalf of shareholders who purchased Repros common stock between July 1, 2009 and August 3, 2009 (the Class Period). This action was filed in the Southern District of Texas Houston Division (4:09-cv-02530).
If you are a member of the class, please visit our website (www.emersonpoynter.com) to view a copy of the complaint.
The complaint alleges that defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing materially false and misleading press releases regarding the success of clinical trials for its drug Proellex. On August 3, 2009, Repros revealed that it was suspending Proellex clinical trials based in a clinically significant increase in liver enzymes among participants. On that day, Repros stock closed at $1.31, a 48% drop from a close of $2.53 the trading day before. This was a 73% drop from the close of $4.96 on July 1, 2009.
Emerson Poynter LLP has a national and international class action legal practice with offices in Little Rock, Arkansas and Houston, Texas. Emerson Poynter handles complex commercial litigation with a concentration in those cases that involve violations of federal and state securities or antitrust laws, the Employee Retirement Income Security Act of 1974 ("ERISA"), and consumer protection laws. It has substantial experience in litigating large complex class-action cases and serves in a leadership position in numerous cases.
If you are a member of the class described above, you may move the Court, not later than October 6, 2009, to serve as Lead Plaintiff for the class. A Lead Plaintiff is a representative chosen by the Court who acts on behalf of other class members in directing the litigation. You do not need to be a Lead Plaintiff to be included in the class. If you purchased Repros common stock and wish to discuss this litigation, or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact us.