NEW YORK, Nov. 16, 2007 (PRIME NEWSWIRE) -- The Brualdi Law Firm P.C. announces that a securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of purchasers of Flamel Technologies, SA ("Flamel" or the "Company") (Nasdaq:FLML) American Depository Receipts (ADRs) between March 23, 2007 and August 22, 2007, inclusive (the "Class Period").
No class has yet been certified in the above action. If you are a member of the proposed Class, you may, no later than January 8, 2008, move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. Your ability to recover is not, however, affected by the decision whether or not to serve as a lead plaintiff.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Tali Leger, Director of Shareholder Relations at The Brualdi Law Firm P.C., 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1877 or (212) 952-0602, by email to tleger@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com/
The complaint alleges that during the Class Period the Company, and one or more members of its senior management, violated federal securities laws by issuing various materially false and misleading statements that had the effect of artificially inflating the market price of the Company's securities and causing Class members to overpay for the securities.