NEW ORLEANS, March 26, 2013 (GLOBE NEWSWIRE) -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until May 24, 2013 to file lead plaintiff applications in a securities class action lawsuit against Star Scientific, Inc. (Nasdaq:STSI), if they purchased the Company's securities during the period between October 31, 2011 and March 18, 2013, inclusive (the "Class Period"). This action is pending in the United States District Court, Eastern District of Virginia.
What You May Do
If you purchased shares of Star Scientific and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (email@example.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by May 24, 2013.
About the Lawsuit
Star Scientific and certain of its executives are charged with issuing materially false and misleading statements, during the Class Period, in violation of federal securities laws.
These false statements and omissions included, in part, the following: (i) the Company was suffering from deficient internal controls and procedures; (ii) the Company had filed to disclose its true financial and operational condition; and (iii) the Company failed to disclose that its financial statements were materially false and misleading.
In January and February 2013 the Company received subpoenas from the U.S. Attorney's office, investigating transactions in its securities, including related party transactions, dating back to 2006. On March 18, 2013, the Company announced that it was conducting an internal investigation.
About Kahn Swick & Foti, LLC
To learn more about KSF, whose partners include the Former Louisiana Attorney General, Charles C. Foti, Jr., and other lawyers with significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders, you may visit www.ksfcounsel.com.
CONTACT: Kahn Swick & Foti, LLC Lewis Kahn, Managing Partner, 877-515-1850 or after hours via cell phone 504-301-7900 firstname.lastname@example.org 206 Covington St. Madisonville, LA 70447Source:Kahn Swick & Foti, LLC