Hemispherx Lied About Immune Disorder Drug, Investor Says

Law360, Los Angeles (January 16, 2013, 6:52 PM EST) -- A Hemispherx Biopharma Inc. shareholder hit the drugmaker and its executives with a derivative suit in Pennsylvania federal court Tuesday, accusing the company of lying about the safety and efficacy of its chronic fatigue syndrome drug, which annihilated its stock price after the medication’s study results were questioned.

Hemispherx investor Mark Zicherman filed the lawsuit claiming six Hemispherx directors knowingly breached their fiduciary duties to shareholders by announcing the company had obtained positive results in clinical trials on Ampligen, a chronic fatigue syndrome drug it is...
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