NEW YORK, March 21, 2006 (PRIMEZONE) -- The Rosen Law Firm (http://www.rosenlegal.com) announced today that a class action has been commenced in the United States District Court for the Northern District of Illinois, on behalf of purchasers of Northfield Laboratories, Inc. ("Northfield") (Nasdaq:NFLD) common stock during the period between February 20, 2004 and February 21, 2006 (the "Class Period"), including purchasers in the May 2004 and February
To join the Northfield securities litigation as a plaintiff or for further information, please call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com.
You can join the class action online at http://www.rosenlegal.com.
A class action lawsuit has already been filed on behalf of Northfield shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than May 16, 2006. 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. or Phillip Kim, Esq. of The Rosen Law Firm toll-free at 1-866-767-3653 or via email at lrosen@rosenlegal.com or pkim@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 Northfield and certain of its officers and directors with violations of the Securities Act of 1933 and Securities Exchange Act of 1934 by virtue of the Company's issuance of a series of materially false and misleading statements concerning the safety and history of the Company's blood substitute PolyHeme. In particular, the complaint alleges that the Company failed to disclose that a significant portion of patients taking PolyHeme in a clinical study suffered heart attacks within seven days of taking PolyHeme -- as compared to zero heart attacks from patients receiving real blood in the same study.
On February 22, 2006, the investing public, for the first time, learned of the heart attacks through a Wall Street Journal article. That same day, the Company responded to the Wall Street Journal article by issuing a press release admitting that the data concerning the heart attacks was not disclosed because "publishing the full data upon closing the study, would have shown that PolyHeme could not be isolated as the cause of the observed serious adverse events." As a result of the Company's actions, Northfield stock fell and damaged investors.
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.