NEW YORK, Oct. 31, 2005 (PRIMEZONE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today that it has filed a class action in the United States District Court for the District of New Jersey on behalf of purchasers of Barrier Therapeutics, Inc. ("Barrier") (Nasdaq:BTRX) common stock during the period between April 29, 2004 and June 29, 2005 (the "Class Period"). Shareholders who purchased Barrier stock in the Initial Public Offering ("IPO") on April 29, 2004 and/or in its Secondary Offering on February 9, 2005 are also included in this class action.
To join the Barrier Therapeutics securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com .
The Rosen Law Firm has already filed a class action lawsuit on behalf of Barrier shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than December 12, 2005. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com 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 also remain an absent class member.
The complaint charges Barrier and certain of its officers and directors with violations of the Securities Act of 1933 and Securities Exchange Act of 1934. Barrier is a biopharmaceutical company, engaged in the discovery, development, and commercialization of pharmaceutical products in the field of dermatology. The complaint alleges that Barrier made a series of materially false and misleading statements concerning the Company's business and products under development. In particular, the Complaint alleges that these statements were materially false and misleading because they failed to disclose and misrepresented the following adverse facts: (i) that the Company had failed to perform its clinical trials in conformity with FDA guidelines as they had failed to disclose that they had secretly substituted the petroleum base within Zimycan, the effect of which was to substantially lessen the likelihood that the drug could achieve FDA approval; (ii) that Hyphanox did not have a better safety or efficacy profile than fluconazole/Diflucan and, in fact, as investors ultimately learned, Hyphanox was significantly less effective than fluconazole/Diflucan; and (iii) as a result of the foregoing, defendants lacked any reasonable basis for their positive statements about Barrier.
The Rosen Law Firm http://www.rosenlegal.com has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. The Rosen Law Firm represents investors throughout the nation, concentrating its practice in securities class actions.
More information on this and other class actions can be found on the Class Action Newsline at www.primezone.com/ca