| Company: | Atherogenics, Inc. |
| Ticker Symbol: | NYSE: AGIX |
| Class Period: | September 28, 2004 to December 31, 2004 |
| Date Filed: | Jan-05-05 |
| Lead Plaintiff Deadline: | Mar-05-05 |
| Court: | Southern District, NY |
| Allegations: |
A class action lawsuit was filed in the United States District Court for the Southern District of New York on behalf of all securities purchasers of the Atherogenics, Inc. ("AGIX" or the "Company") from September 28, 2004 and December 31, 2004 inclusive (the "Class Period").
The complaint charges AGIX, Russell Medford, Mark Colonnese, and Robert Scott with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company hyped the results of an inconclusive and limited study of AGI-1067; (2) that the statistically impressive levels of plaque reduction, described by AGIX in the initial announcement, varied significantly from the results achieved by the Cleveland Clinic; (3) that the Company was burning cash at a high rate; and (4) that the Company manipulated the study's results in order to enter into a strategic partnership with a major pharmaceutical company to complete the development and commercialization of AGI-1067.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
The complaint charges AGIX, Russell Medford, Mark Colonnese, and Robert Scott with violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company hyped the results of an inconclusive and limited study of AGI-1067; (2) that the statistically impressive levels of plaque reduction, described by AGIX in the initial announcement, varied significantly from the results achieved by the Cleveland Clinic; (3) that the Company was burning cash at a high rate; and (4) that the Company manipulated the study's results in order to enter into a strategic partnership with a major pharmaceutical company to complete the development and commercialization of AGI-1067.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Register your Case
If you feel you qualify for damages or remedies that might be awarded in this class action please fill in our form on the right to submit your complaint.
