Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From
Investment in Star Scientific, Inc. to Inquire About the Lead Plaintiff
Position in Securities Fraud Class Action Lawsuit Before the May 24, 2013 Lead
STEVENSON, Md., March 26, 2013 (GLOBE NEWSWIRE) -- Brower Piven, A
Professional Corporation announces that a class action lawsuit has been
commenced in the United States District Court for the Eastern District of
Virginia on behalf of purchasers of Star Scientific, Inc. ("Star Scientific"
or the "Company") (Nasdaq:STSI) common stock during the period between October
31, 2011 and March 18, 2013, inclusive (the "Class Period").
If you have suffered a net loss from investment in Star Scientific, Inc.
common stock purchased on or after October 31, 2011, and held through March
18, 2013, you may obtain additional information about this lawsuit and your
ability to become a lead plaintiff by contacting Brower Piven at
www.browerpiven.com, by email at firstname.lastname@example.org, by calling
410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley
Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined
experience litigating securities and class action cases of over 60 years.
No class has yet been certified in the above action.Members of the Class will
be represented by the lead plaintiff and counsel chosen by the lead
plaintiff.If you wish to choose counsel to represent you and the Class, you
must apply to be appointed lead plaintiff no later than May 24, 2013 and be
selected by the Court.The lead plaintiff will direct the litigation and
participate in important decisions including whether to accept a settlement
and how much of a settlement to accept for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the largest loss
from investment in the Company during the Class Period.
The complaint accuses the defendants of violations of the Securities Exchange
Act of 1934 by virtue of the defendants' failure to disclose during the Class
Period that, since 2006, Star Scientific engaged in potentially illegal
transactions involving certain private placements and related party
transactions involving Company securities.According to the Complaint,
following a January 23, 2013 article published by TheStreet alleging, among
other things, that the Company misled investors about John Hopkins
University's involvement in Star Scientific's clinical testing of its retail
nutritional supplement Anatabine, and following the Company's March 18, 2013
disclosure that it had received subpoenas from the U.S. Attorney's office for
information regarding transactions in the Company's securities back to 2006
and that the Company was also conducting an internal investigation, the value
of Star Scientific shares declined significantly.
If you choose to retain counsel, you may retain Brower Piven without financial
obligation or cost to you, or you may retain other counsel of your choice.You
need take no action at this time to be a member of the class.
CONTACT: Charles J. Piven
Brower Piven, A Professional Corporation
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