Star Scientific, Inc. Issues Statement in Response to Two Plaintiffs'
Purported Class Action Law Suits and Multiple Press Releases Issued by
Plaintiffs' Law Firms Trolling for New Clients
GLEN ALLEN, Va., April 4, 2013
GLEN ALLEN, Va., April 4, 2013 /PRNewswire/ --Paul L. Perito, Esquire,
Chairman, President and COO of Star Scientific, Inc. (NASDAQ: STSI), issued
the following statement on behalf of Star Scientific and Rock Creek
Numerous plaintiffs' class action law firmshave been issuing press releases
and announcements since January seeking potential plaintiffs to retain them
and sue the Company. These press releases and announcements that are
appearing on various websites and in other media are not lawsuits. They are
attempts by plaintiffs' firms to solicit plaintiffs to form class action
As of today, two shareholder complaints have been filed against Star
Scientific.The firstcomplaint, filedin the United States District Court
for the Eastern District of Virginia on March 25, 2013, is namedReuter v.
Star Scientific, Inc.,et al. A second complaint, subsequently filed in the
United States District Court for the District of Massachusetts on March 26,
2013,is namedBoravian v.Star Scientific, Inc., et al. We believe that
both of these complaintsare without merit and we will assert numerous
defenses to the claims being made. Wehave hired able and experienced trial
counsel who have successfully defended similar class action cases. We will
vigorously defend these suits, and we believe that we will ultimately be
Star Scientific will not be deterred by these distractions, as we stated
last week. The Company is proud of its worthy science based products, as
well as the fact that these products are used by thousands of satisfied,
repeat customers. We stand behind our scientific research, and that of
other credentialed third parties, which has been conducted on our anatabine
compound, as well as the reporting of the results of that research.
Accordingly, the Company will continue to focus on sales of its Anatabloc®
products, its new Anatabloc® facial creme, and the extension of its product
Certain statements contained in this release constitute forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Such statements include, but are not limited to statements identified
by words such as "believes," "expects," "anticipates," "estimates," "intends,"
"plans," "targets," "projects" and similar expressions. The statements in this
release are based upon the current beliefs and expectations of our company's
management and are subject to significant risks and uncertainties. Actual
results may differ from those set forth in the forward-looking statements.
Numerous factors could cause or contribute to such differences, including, but
not limited to, results of clinical trials and/or other studies, the
challenges inherent in new product development initiatives, including the
continued development and market acceptance of our nutraceutical dietary
supplements products, the effect of any competitive products, our ability to
license and protect our intellectual property, our ability to raise additional
capital in the future that is necessary to maintain our business, changes in
government policy and/or regulation, potential litigation by or against us and
any governmental review of our products or practices, as well as other risks
discussed from time to time in our filings with the Securities and Exchange
Commission, including, without limitation, our annual report on Form 10-K for
the fiscal year ended December 31, 2012. We undertake no duty to update any
forward-looking statement or any information contained in this press release
or in other public disclosures at any time.
About Star Scientific
Star Scientific, Inc. is a technology-oriented company with a mission to
promote maintenance of a healthy metabolism and lifestyle. Through its wholly
owned subsidiary, Rock Creek Pharmaceuticals, Star Scientific has been engaged
in the manufacturing, sale, and marketing of two nutraceutical dietary
supplements, a cosmetic facial cream, and the development of other
nutraceuticals and pharmaceuticals. The company also continues to pursue the
licensing of the technology behind its proprietary StarCured® curing process
and its related products. Rock Creek Pharmaceuticals has scientific and
research offices in Gloucester, MA, and a regulatory office in Washington, DC.
Star Scientific has a Corporate and Sales Office in Glen Allen, VA, and an
Executive, Scientific & Regulatory Affairs office in Washington, DC.
(Logo: http://photos.prnewswire.com/prnh/20130319/PH79245LOGO )
Talhia T. Tuck
Vice President, Communications and Investor Relations
Star Scientific, Inc.
SOURCE Star Scientific, Inc.
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