NEW YORK, Nov. 22, 2013 (GLOBE NEWSWIRE) -- Pomerantz Grossman Hufford Dahlstrom & Gross LLP has filed a class action lawsuit against Catalyst Pharmaceutical Partners, Inc. ("Catalyst" or the "Company") (Nasdaq:CPRX) and certain of its officers. The class action, filed in United States District Court, Southern District of Florida, is on behalf of a class consisting of all persons or entities who purchased or otherwise acquired Catalyst securities between October 31, 2012 and October 18, 2013 both dates inclusive (the "Class Period"). This class action seeks to recover damages against the Company and certain of its officers and directors as a result of alleged violations of the federal securities laws pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
If you are a shareholder who purchased Catalyst securities during the Class Period, you have until December 24, 2013 to ask the Court to appoint you as Lead Plaintiff for the class. A copy of the Complaint can be obtained at www.pomerantzlaw.com. To discuss this action, contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888.476.6529 (or 888.4-POMLAW), toll free, x237. Those who inquire by e-mail are encouraged to include their mailing address, telephone number, and number of shares purchased.
Catalyst is a pharmaceutical company focused on developing and marketing novel prescription drugs targeting rare neuromuscular and neurological diseases and disorders. One of the Company's principal products is Firdapse, currently in Phase III clinical trials for treatment of Lambert-Eaton Myasthenic Syndrome (LEMS), a rare autoimmune disease. The Complaint alleges that defendants failed to disclose that a competitor had been manufacturing a drug equivalent to Firdapse, and providing it to patients with LEMS, free of charge through a compassionate use program, for the past 20 years. On October 18, 2013, an article published by TheStreet alleged that Catalyst's Firdapse is the same drug that its competitor has been manufacturing and providing in the U.S. for the past 20 years.
On this news, Catalyst securities declined to $1.52 or 25% on October 21, 2013.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT: Robert S. Willoughby
Pomerantz Grossman Hufford Dahlstrom & Gross LLP
rswilloughby@pomlaw.com
