Law Offices of Howard G. Smith Announces Class Action Lawsuit Against GPC Biotech
27 Julho 2007 - 11:30PM
PR Newswire (US)
BENSALEM, Pa., July 27 /PRNewswire/ -- Law Offices of Howard G.
Smith announces that a securities class action lawsuit has been
filed on behalf of shareholders who purchased the securities of GPC
Biotech AG ("GPC Biotech" or the "Company")(NASDAQ:GPCB) between
December 5, 2005 and July 24, 2007, inclusive (the "Class Period").
The class action lawsuit was filed in the United States District
Court for the Southern District of New York. The Complaint alleges
that defendants violated federal securities laws by issuing
material misrepresentations to the market concerning the prospects
for U.S. Food & Drug Administration approval of Satraplatin --
a treatment for advanced prostate cancer -- thereby artificially
inflating the price of GPC Biotech securities. GPC Biotech, which
is based in Germany, obtained the rights to Satraplatin in 2002
from California-based Spectrum Pharmaceuticals, Inc. (NASDAQ:SPPI),
which would receive royalties on sales of the drug. No class has
yet been certified in the above action. Until a class is certified,
you are not represented by counsel unless you retain one. If you
purchased GPC Biotech securities between December 5, 2005 and July
24, 2007, you have certain rights, and have until September 24,
2007, to move for Lead Plaintiff status. To be a member of the
class you need not take any action at this time, and you may retain
counsel of your choice. If you wish to discuss this action or have
any questions concerning this Notice or your rights or interests
with respect to these matters, please contact Howard G. Smith,
Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike,
Suite 112, Bensalem, Pennsylvania 19020, by telephone at
(215)638-4847, Toll-Free at (888)638-4847, by email to or visit our
website at http://www.howardsmithlaw.com/. DATASOURCE: Law Offices
of Howard G. Smith CONTACT: Howard G. Smith of Law Offices of
Howard G. Smith, +1-215-638-4847, 1-888-638-4847, Web site:
http://www.howardsmithlaw.com/
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