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Repros Therapeutics Inc (NASDAQ: RPRX) Investor Securities Class Action Lawsuit 08/07/2009

  • If you purchased shares of Repros Therapeutics Inc (NASDAQ: RPRX), you might have certain options and should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Case Dismissed
Company
Repros Therapeutics, Inc.
Security
NASDAQ: RPRX

Case Name
Repros Therapeutics Shareholder Class Action Lawsuit 08/07/2009
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Texas

Class Period Begin
Class Period End
Deadline To File for Lead
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Summary

January 19, 2011 - The court dismissed the case.
March 15, 2010 - Defendants filed a motion to dismiss.

January 27, 2010 - The lead plaintiff filed an amended consolidated complaint on behalf of investors who purchased Repros Therapeutics Inc (NASDAQ: RPRX) common shares between July 1, 2009 and August 2, 2009. The plaintiff alleges that the defendants violated the Securities Exchange Act of 1934 by issuing false and misleading statements between July 1, 2009 and August 2, 2009.

December 4, 2009 - More cases were consolidated.

October 21, 2009 - Cases were consolidated.

August 7, 2009 - An investor in shares of Repros Therapeutics Inc (NASDAQ: RPRX) filed a lawsuit in the U.S. District Court for the Southern District of Texas against Repros Therapeutics Inc over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between July 1, 2009 and August 3, 2009.

According to the complaint the plaintiff alleges that Repros Therapeutics Inc and certain of its officers violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing between July 1, 2009 and August 3, 2009 misleading statements concerning the adverse events that patients suffered in clinical trials for Repros Therapeutics Inc lead drug candidate Proellex. According to a press release by the law firm the complaint alleges that when Repros Therapeutics Inc disclosed the truth concerning the seriousness of the adverse events, its stock price dropped, damaging investors. On August 3, 2009 Repros Therapeutics Inc announced that it was suspending all further dosing of Proellex in their clinical trials as a result of serious adverse events. The August 3rd announcement disclosed that the adverse events were more frequent and more serious than Repros Therapeutics Inc had previously reported, so the investigation.

As a result of this news, Repros Therapeutics Inc's stock (NASDAQ: RPRX) fell over 70%.

Repros Therapeutics Inc, located in The Woodlands, Texas, is a development-stage biopharmaceutical company focused on the development of oral small molecule drugs for unmet medical needs. Repros Therapeutics Inc principal drug, Proellex, is a selective blocker of the progesterone receptor and is being developed for the treatment of uterine fibroids, anemia associated with excessive menstrual bleeding relating to uterine fibroids, or anemia associated with uterine fibroids and endometriosis. Repros Therapeutics Inc (NASDAQ: RPRX) reported in 2007 Total Revenue of $1.51 million and in 2008 Total Revenue of $0.43 million. Shares of Repros Therapeutics Inc (NASDAQ: RPRX) traded recently at $1.27 per share, down from a 52 week High of $13.94 per share and $14.56 per share in 2007.