Star Scientific Shareholder Alert: Briscoe Law and Powers Taylor Investigate
Possible Breaches of Fiduciary Duty by Officers and Directors
DALLAS -- April 4, 2013
Former United States Securities and Exchange Commission attorney Willie
Briscoe, founder of The Briscoe Law Firm, PLLC, and the securities litigation
firm of Powers Taylor, LLP announce that a federal class action lawsuit has
been filed in Virginia against Star Scientific, Inc. (“Star Scientific” or
“Company”) (NasdaqGM: STSI) and several of its officers and directors for acts
taken during the period of October 31, 2011 to March 18, 2013 (the “Class
Based upon the allegations in the class action, the firms are investigating
additional legal claims against the officers and Board of Directors of Star
Scientific. If you are an affected Star Scientific shareholder and you want to
learn more about the lawsuit or join the action, contact Willie Briscoe at The
Briscoe Law Firm, PLLC, (214) 706-9314, or via email at
WBriscoe@TheBriscoeLawFirm.com, or Zach Groover at Powers Taylor, LLP, toll
free (877) 728-9607, via e-mail at firstname.lastname@example.org. There is no cost or
fee to you.
In the complaint, the defendants are alleged to have violated provisions of
the Securities Exchange Act of 1934. Notably, one of the complaints alleges
that defendants misrepresented and/or failed to disclose that, among other
things: (1) the Company engaged in potentially illegal transactions involving
certain private placements and related party transactions since 2006; and (2)
the Company received subpoenas from the US Attorney’s office investigating
potential securities fraud involving transactions dating back to 2006.
According to this complaint, when these facts were finally disclosed, Star
Scientific’s shares dropped substantially.
“The allegedly improper business practices conducted by Star Scientific have
prompted our firms to investigate additional claims against the Company’s
officers and directors, including potential breaches of fiduciary duties and
other violations of state law. Based on our investigation, we are prepared to
pursue litigation to preserve the company and the value of Star Scientific
stock for all shareholders,” said shareholder rights attorney Patrick Powers.
The Briscoe Law Firm, PLLC is a full service business litigation, commercial
transaction, and public advocacy firm with more than 20 years of experience in
complex litigation and transactional matters.
Powers Taylor, LLP is a boutique litigation law firm that handles a variety of
complex business litigation matters, including claims of investor and
stockholder fraud, shareholder oppression, shareholder derivative suits, and
security class actions.
The Briscoe Law Firm, PLLC
Willie Briscoe, 214-706-9314
Powers Taylor, LLP
Zach Groover, 877-728-9607
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