Lawsuit on Behalf of Star Scientific, Inc. (STSI) Investors Over Alleged Misleading Statements Announced by Shareholders Foundation
SAN DIEGO, April 22, 2013 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit was filed on behalf of certain purchasers of Star Scientific, Inc. (STSI) common stock over alleged violations of Federal Securities Laws by Star Scientific, Inc. in connection with certain allegedly false and misleading statements made between October 31, 2011 and March 18, 2013.
If you purchased a significant amount of common stock of Star Scientific, Inc. (STSI) between October 31, 2011 and March 18, 2013 and / or if you purchased STSI shares in 2010 or earlier and currently hold any of those shares, you have certain options and you should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The plaintiff alleges that the defendants allegedly made false and/or misleading statements and/or failed to disclose that Star Scientific, Inc. engaged in potentially illegal transactions involving certain private placements and related party transactions since 2006 involving Star Scientific, Inc. securities.
On January 23, 2013, a report was published that alleged that Star Scientific, Inc. misled investors about the involvement of Johns Hopkins University in the clinical testing of the company's retail nutritional supplement anatabine.
On March 18, 2013, Star Scientific, Inc. disclosed to investors that in January and February 2013 the Company and its directors received subpoenas from the US Attorney's office concerning an investigation that is focused on transactions involving Star Scientific's securities including certain private placements and related party transactions since 2006. The Company also announced that it was conducting an internal investigation regarding these transactions.
Shares of Star Scientific, Inc. (STSI) declined from $2.95 per share in early January 2013 to as low as $1.28 per share on April 3, which is significantly below its current 52 week High of $5.05 per share.
The plaintiff seeks to recover damages.
Those who purchased Star Scientific, Inc. (STSI) shares have certain options and should contact the Shareholders Foundation, Inc. by e-mail at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT: Shareholders Foundation, Inc.
Trevor Allen
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
