The Emerson Firm Announces Expanded Class Period in Class Action Lawsuit Against Bristol-Myers Squibb Company on Behalf of Investors -- BMY


LITTLE ROCK, Ark., May 10, 2002 (PRIMEZONE) -- The Emerson Firm, a securities class action trial law firm, announced today that a class action has been filed in the United States District Court for the Southern District of New York on behalf of those who purchased, converted, exchanged or otherwise acquired Bristol-Myers Squibb Company (NYSE:BMY) ("Bristol-Myers" or the "Company") securities during the period between May 16, 2001 and April 3, 2002, inclusive (the "Class Period"). This case expands the class period for investors who acquired Bristol-Myers securities as the initial cases made allegations concerning a Class Period from September, 19, 2001 and January 4, 2002. A copy of the complaint filed in this action is available from the Court, or can be obtained from The Emerson Firm. The deadline is rapidly approaching for this suit as the lead plaintiff date is May 20, 2002.

The complaint charges Bristol-Myers and certain of its officers and directors with violating the federal securities laws by making itself, and allowing its drug development partner to make, without correction, materially false and misleading statements about the progress of its Erbitux cancer treatment drug's application for FDA approval even as Bristol-Myers knew that the application and data were false.

Specifically, the complaint alleges that on December 28, 2001, a press release disclosed that the FDA had rejected the filing of a Biologics License Application for Erbitux. On January 4, 2002, The Cancer Letter reported that the FDA repeatedly informed defendants about problems with the Erbitux clinical trials during the Class Period. These shocking revelations caused the stock to plummet from a Class Period high of $56 to below $50.

If you bought Bristol-Myers common stock between May 16, 2001 and April 3, 2002 inclusive, and you wish to serve as lead plaintiff, you must move the Court no later than May 20, 2002. If you are a member of this class, you can join this class action by contacting The Emerson Firm. Any member of the purported class may move the Court to serve as lead plaintiff through The Emerson Firm or other counsel of their choice, or may choose to do nothing and remain an absent class member. Because of the impending deadline, you should contact us immediately.

The Emerson Firm has substantial experience representing investors in securities fraud class action lawsuits such as this. In fact, the Firm was recently appointed by a Court in Houston to the Plaintiffs' Counsel Steering Committee prosecuting the Enron retirement plan litigation. The firm has offices in Houston, Texas and Little Rock, Arkansas, but represents investors throughout the nation. If you have any questions about how you may be able to recover for your losses, or if you would like to consider serving as one of the lead plaintiffs in this lawsuit, you are encouraged to call or e-mail the Firm.

More information on this and other class actions can be found on the Class Action Newsline at http://www.primezone.com/ca.



            

Contact Data