Investor Sues Hemispherx As FDA Denies Fatigue Drug

Law360, New York (December 2, 2009, 4:11 PM EST) -- The U.S. Food and Drug Administration will not approve Hemispherx Biopharma Inc.'s chronic fatigue syndrome drug Ampligen anytime soon, the company announced Tuesday, the same day a shareholder filed another putative class action alleging it misled investors on the drug's status.

Shareholder Paul McGovern filed suit Tuesday in the U.S. District Court for the Eastern District of Pennsylvania, becoming at least the second shareholder to accuse Hemispherx of violating federal securities laws by misleading the public about the status of the new drug application for Ampligen....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.