NEW YORK, April 8, 2011 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. reminds investors of the important May 10, 2011 lead plaintiff deadline in the securities class action filed by the firm on behalf of purchasers of Radient Pharmaceuticals Corporation (AMEX:RPC) during the period between January 18, 2011 and March 4, 2011, inclusive.
To join the Radient class action, visit the firm's 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 violations of the Securities Exchange Act against Radient and its officers and directors for materially misrepresenting the involvement of the prestigious Mayo Clinic in the Company's clinical trial of Onko-Sure. On January 18, 2011, Radient issued a press release announcing "progress on its clinical study with the Mayo Clinic…." In connection with the clinical study, the Company claimed that samples were being tested by the Company and the Mayo Clinic to directly compare the efficacy of the Onko-Sure test with another test. On March 7, 2011, TheStreet.com issued an article refuting claims that the Mayo Clinic was conducting a clinical trial with Radient. In the article, the Mayo Clinic is quoted as stating that: "Mayo is not engaged in clinical studies with Radient and does not have a partnership agreement with Radient." The Mayo Clinic added that: "The services Mayo was required to provide to Radient have been fulfilled. Any clinical study results about Onko-Sure would be provided by Radient, not Mayo Clinic." As a result of this adverse news, the price of Radient stock fell, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than May 10, 2011. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, 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. You may also visit the firm's website at http://www.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 choose to do nothing at this point and remain an absent class member.
The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.