Hemispherx Misled Investors Over Anti-Fatigue Drug, Suit Says

Law360, New York (April 25, 2013, 7:47 PM EDT) -- Hemispherx Biopharma Inc.’s directors and officers were hit with a shareholder derivative suit in Pennsylvania court Tuesday alleging they misrepresented the safety and efficacy of the anti-fatigue drug Ampligen and overstated its prospects for federal approval.

Plaintiffs Richard J. Sussman and Douglas T. Lowe claim Hemispherx’s top brass concealed problems with the clinical trials and continued to publicly tout positive results for Ampligen, its chief product, that misled investors about the drug’s prospects for approval by the U.S. Food and Drug Administration in breach of their...
To view the full article, register now.