NEW YORK, July 7, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that a class action lawsuit has been filed on behalf of purchasers of BioMimetic Therapeutics, Inc. ("BMTI" or the "Company") (Nasdaq:BMTI) common stock during the period from October 14, 2009 through May 11, 2011.
To join the class action against BMTI, go to the website at http://www.rosenlegal.com or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653. You may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.
The complaint asserts claims against BMTI and its officers and directors for violations of the federal securities laws. The complaint alleges that BMTI misrepresented the safety and efficacy of Augment and its prospects for FDA approval, and the inadequacies of Augment's clinical trials. On May 10, 2011, the FDA stated that there were material safety issues and questioned the benefits of Augment relative to its risks. As a result, BMTI's stock price dropped substantially, causing stockholders to suffer losses in their investments.
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.
If you are a shareholder who purchased BMTI securities during the Class Period, you have until September 6, 2011 to ask the Court to appoint you as lead plaintiff for the class.
If you wish to join the class action or to discuss your ability to recover your investment losses, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll-free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.
The Rosen Law Firm 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.
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