NEOPHARM, INC.
A class action lawsuit was commenced on behalf of all persons and entities who purchased or otherwise acquired the securities of NeoPharm, Inc. ("NeoPharm") between September 25, 2000 and April 19, 2002, inclusive (the "Class Period"). The complaint names NeoPharm, John N. Kapoor, James M. Husse and Aquilur Rahman as Defendants. Specifically, the complaint alleges that NeoPharm issued a series of statements concerning its Liposome Encapsulated Praclitaxel ("LEP") product, and that Defendants made materially false positive statements to Pharmacia in order to induce their participation in clinical trials of LEP; failed to disclose that Pharmacia was studying a different formulation of LEP that would not necessarily support the approval of NeoPharm's LEP product; and failed to disclose that all of Pharmacia's clinical trials failed to produce any positive benefits to patients. In addition, certain individual defendants wrongfully sold shares of NeoPharm on the open market at artificially inflated prices, reaping proceeds of over $7 million.
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To find out more about this case, please contact us at shareholderrelations@spornlaw.com or 212-964-0046.
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