Shapiro Haber & Urmy LLP & Liggio Benrubi PA Announce the Filing of a Class Action Lawsuit Against Accentia Biopharmaceutical...
31 July 2013 - 8:35AM
Business Wire
Shapiro Haber & Urmy LLP and Liggio Benrubi PA filed a class
action on July 26, 2013 against Accentia Biopharmaceuticals, Inc.
(“Accentia”) (ABPI) and certain officers and directors of Accentia
and Biovest International, Inc. (“Biovest”) (OTCQB:BVTI), a
majority-owned subsidiary of Accentia, for violations of federal
securities laws. The case has been filed in the United States
District Court for the Middle District of Florida and is entitled
Hill v. Accentia Biopharmaceuticals, et al., C.A. No.
13-cv-01945.
The Complaint alleges that the FDA informed Biovest that the
results of a Phase III clinical trial for BiovaxID, a potential
vaccine for the treatment of non-Hodgkin’s lymphoma, did not
support an application for approval of BiovaxID. Despite this
information, Defendants made numerous statements in press releases
and securities filings that gave the misleading impression that the
trial results were statistically significant and that Biovest was
on track to obtain FDA approval. The Complaint alleges that these
misstatements and omissions by Defendants misrepresented and/or
omitted material facts to the investing public, in violation of
Sections 10(b) and 20(a) of the Securities Exchange Act.
The class action is brought on behalf of all persons and
entities who purchased common stock of either Accentia or Biovest
from July 26, 2008 through August 14, 2012.
If you purchased shares of either Biovest or Accentia common
stock during the above time period, you may move the court to
appoint you as lead plaintiff no later than 60 days from today.
The factual and legal bases for the Plaintiffs’ claims are set
forth in greater detail in the Complaint, which is available at
www.shulaw.com or can be obtained, without any obligation, from
counsel for the Plaintiffs, Shapiro Haber & Urmy LLP or Liggio
Benrubi PA. More information about the law firms and their
qualifications is available at www.shulaw.com or www.liggiolaw.com.
If you would like more information about this case, please contact
Shapiro Haber & Urmy LLP at the firm’s telephone numbers below
or by email.