Hemispherx Biopharma issued an "update" to the regulatory status of its chronic fatigue syndrome drug Ampligen in which the company essentially admits that its prior public statements were false and misleading. [The Company's CEO] made these statements both before and immediately after the FDA approval decision date for Ampligen on May 25, which came and went without any word from the agency. We now know that Carter's statements were demonstrably false. The FDA application for Ampligen was not complete because several items were outstanding, the company now states. These included FDA requests for data on Ampligen's safety both in humans and animals. The FDA also required additional information about Ampligen's manufacturing. Carter's public statements helped boost Hemispherx's stock price during the spring and early summer months and benefited the company when it went to raise money from investors.If you wish to serve as lead plaintiff in this class action lawsuit, you must move the Court no later than January 11, 2010. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you would like to discuss your legal rights, you may e-mail or call KSF Managing Partner Lewis Kahn, without obligation or cost to you, toll free 1-866-467-1400, ext. 100, after hours via cell phone 504-301-7900, or by email at lewis.kahn@ksfcounsel.com. To learn more about KSF, you may visit www.ksfcounsel.com. KSF is a law firm focused on securities class action litigation with offices in New Orleans and New York City. KSF's lawyers have significant experience litigating complex securities class actions. Among other cases, KSF has been appointed Lead or Co-Lead Counsel in the following securities cases: In re: U.S. Auto Parts Networks, Inc. Securities Litigation, C.D. Cal.; In re Xethanol Corporation Securities Litigation, S.D.N.Y.; In re Superior Offshore International, Inc. Securities Litigation, S.D. Tex.; Terayon Comm. Systems Inc., N.D. Cal.; and In re BigBand Networks, Inc. Securities Litigation, N.D. Cal. SPECIAL NOTICE: KSF encourages you to carefully evaluate any firm you may consider to represent your interests in the Hemispherx class action. The Private Securities Litigation Reform Act ("PSLRA") permits Company shareholders to choose counsel of their choice to prosecute this action. Critical components of a law firm's ability to successfully prosecute this action and obtain a strong recovery for you include the resources it will dedicate to prosecution of the case, including the number of lawyers the firm has available for the Hemispherx action in particular, AND especially the quality of the firm's work. While KSF has not filed suit yet, the firm is currently conducting its own investigation of Hemispherx and interested shareholders are encouraged to call for consultation.
Contact Information: Contact: Lewis Kahn Kahn Swick & Foti, LLC 650 Poydras St., Suite 2150 New Orleans, LA 70130 1-866-467-1400, ext. 100 Lewis.kahn@ksfcounsel.com