NEW YORK, April 4, 2013 (GLOBE NEWSWIRE) -- The following statement was issued today by Squitieri & Fearon, LLP.
Squitieri & Fearon, LLP announces that it is pursuing claims for purchasers of Affymax, Inc. (Nasdaq:AFFY) securities during the period between December 8, 2011 and February 22, 2013 (the "Class Period"). A class action has been filed in the United States District Court for the Central District of California on behalf of those purchasers charging that certain officers of the company violated the federal securities laws by issuing a series of materially false and misleading statements to the market throughout the Class Period about the Company and by failing to disclose material information about problems with the company's OMONTYS Injection, including that three were reports of life-threatening and fatal reactions associated with the product. When the market learned the truth, the price of the company's stock declined substantially and now trades at approximately $1.13 per share.
We are pursuing whether there are claims to recover damages on behalf of all purchasers of the Company's securities during the Class Period. Excluded from the proposed Class are the defendants and members of their immediate families, any entity in which a defendant has a controlling interest and the heirs of any such excluded party.
Squitieri & Fearon, LLP has significant experience prosecuting class actions on behalf of investors and shareholders.
If you are a member of the Class described above, you may, no later than April 29, 2013 move the Court to serve as lead plaintiff of the Class, if you so choose.
If you wish to discuss your rights in connection with the HNR stock or have any questions concerning this notice or your rights or interest, please contact Stephen J. Fearon, Jr. of Squitieri & Fearon, LLP by email at email@example.com or by phone at (212) 421-6492. You can also review more information about this at the following web site: http://sfclasslaw.com/affymax-inc-nasdaq-affy-securities-fraud-class- action-investigation/.
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Source:Squitieri & Fearon, LLP