In re Empyrean Bioscience Securities Litigation, No. 1:02CV1439

This class action in which the Rosen Law Firm was sole Lead Counsel was filed in the U.S. District Court for the Northern District of Ohio. The action alleged violations of §§10b and 20(a) of the Securities Exchange Act based on misrepresentations in defendants’ SEC filings and press releases concerning the clinical testing of the Company’s GEDA Plus microbicide gel. After the court denied defendants’ motion to dismiss the complaint, the parties briefed the issue of whether the securities were traded in an efficient market. Prior to a decision on market efficiency, Plaintiffs settled the case for a $1.4 million payment to class members.

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