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If you purchased shares of Hemispherx BioPharma Inc (AMEX: HEB), you might have certain options and should contact the Shareholders Foundation, Inc.
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Lawsuit Overview
Settlement Overview
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July 22, 2015 - The court held a final settlement hearing and approved the settlement, the plan of allocation and the motion for attorneys’ fees and expenses.
April 8, 2015 - The court preliminarily approved the settlement.
February 25, 2015 - Parties filed a stipulation of settlement.
January 24, 2014 - The court denied the defendants' motion to dismiss.
July 19, 2013 - Defendants filed a motion to dismiss.
May 20, 2013 - The lead plaintiffs filed an amended consolidated complaint on behalf of investors who purchased Hemispherx BioPharma Inc (AMEX: HEB) common shares between March 14, 2012 and December 20, 2012. The plaintiffs allege that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between March 14, 2012 and December 20, 2012.
March 14, 2013 - Lead plaintiffs and lead counsel were appointed.
February 22, 2013 - Lead plaintiff motions were filed.
December 21, 2012 - An investor in shares of Hemispherx BioPharma Inc (AMEX: HEB) filed a lawsuit in the U.S. District Court for the Eastern District of Pennsylvania against Hemispherx BioPharma Inc over alleged securities laws violations of Federal Securities Laws in connection with certain allegedly false and misleading statements concerning Hemispherx BioPharma Inc’s new drug Ampligen.
According to the complaint the plaintiff alleges on behalf of all persons or entities who purchased or otherwise acquired securities of Hemispherx BioPharma Inc (AMEX: HEB) between March 19, 2012 and December 17, 2012, that Hemispherx BioPharma Inc and certain of its officers and directors violated the Securities Exchange Act of 1934 by assuming between March 19, 2012 and December 17, 2012 allegedly false and misleading information about its lead drug candidate Ampligen.
On March 19, 2012, Hemispherx BioPharma Inc published data on the bioactivity of its drug Ampligen in Chronic Fatigue Syndrome.
On July 11, 2012, Hemispherx BioPharma Inc announced that Hemispherx BioPharma Inc and the FDA reached an agreement on the filing requirements for Hemispherx BioPharma Inc’s Complete Response in Support of Ampligen® New Drug Application for Chronic Fatigue Syndrome Treatment.
Shares of Hemispherx BioPharma Inc (AMEX: HEB) increased from as low as $0.325 in mid-March 2012 to as high as $1.00 per share in late September 2012.
Then on December 20, 2012, the Arthritis Advisory Committee (the “AAC”) of the U.S. Food and Drug Administration (the “FDA”) rejected Hemispherx BioPharma Inc's Ampligen for Chronic Fatigue Syndrome. Among other things, the advisory panel said a proposed medicine from Hemispherx Biopharma Inc isn't ready for marketing.
Shares of Hemispherx BioPharma Inc (AMEX: HEB) declined from $0.64 per share on December 17, 2012, to as low as $0.263 per share on Deember 21, 2012.