Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Star Scientific, Inc. in Light of FBI Probe

  Cohen Milstein Sellers & Toll PLLC Announces the Investigation of Star
  Scientific, Inc. in Light of FBI Probe

Business Wire

WASHINGTON -- April 30, 2013

Cohen Milstein Sellers & Toll PLLC is conducting an investigation to determine
whether Star Scientific, Inc. (“Star” or the “Company”) and certain of its
officers and directors made false and misleading statements and/or omissions
in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of
1934.

Several class action lawsuits were filed in both the U.S. District Court for
the Eastern District of Virginia and the District of Massachusetts by other
law firms on behalf of purchasers of the common stock of Star Scientific, Inc.
(NASDAQ: STSI) between October 31, 2011 and March 18, 2013, inclusive (the
“Class Period”).

The complaints allege that Star Scientific and certain of its officers and
directors (“Defendants”) had: (1) misled investors regarding the true
involvement of Johns Hopkins in the clinical testing of the Company’s
nutritional supplements; (2) made false and misleading statements about the
Company’s business, operational and compliance policies; (3) engaged in
potentially illegal transactions involving certain private placements and
related party transactions since 2006; and (4) failed to timely disclose a
federal investigation.

The Class Period ends on March 18, 2013 with the Company’s filing of its 2012
Form 10-K in which it revealed that it had, along with its officers, directors
and others, received subpoenas from federal prosecutors investigating various
related party transactions and private placements dating back to 2006:

Our present understanding is that the investigation is principally focused on
transactions involving our company’s securities including certain private
placements and related party transactions since 2006…We are unable to predict
the duration of the [our] internal investigation or the United States
Attorney's investigation.

The price of Star Scientific shares fell from $1.98 to $1.64 on March 19.

The federal securities investigation of Star Scientific grew into an
investigation examining the ties between the Company and the current governor
of Virginia, Bob McDonnell. The Washington Post reported on April 30, 2013,
that “federal officials are trying to determine whether to expand that
investigation into a broader look at whether McDonnell or his administration
took any action to benefit Star Scientific in exchange for monetary or other
benefits,” although the Post added that it is unclear whether the probe will
be broadened.

Cohen Milstein encourages all investors who purchased Star Scientific common
stock between October 31, 2011 and March 18, 2013 or former employees with
information concerning this matter to contact the firm.

If you are a Star Scientific shareholder and would like to discuss your right
to recover for your economic loss, you may, without any cost or obligation,
call Cohen Milstein’s Managing Partner, Steven J. Toll at (888) 240-0775 or
(202) 408-4600, or email him at stoll@cohenmilstein.com. If you wish to serve
as lead plaintiff, you must move the Court no later than May 24, 2013 to
request that the Court appoint you as lead plaintiff. A lead plaintiff is a
representative party acting on behalf of other class members in directing the
litigation. To be appointed lead plaintiff, the Court must decide that your
claim is typical of the claims of other class members, and that you will
adequately represent the class. Your share in any recovery will not be
enhanced or diminished by the decision whether or not to serve as a lead
plaintiff. Any member of the proposed class may retain Cohen Milstein Sellers
& Toll PLLC or other attorneys to serve as your counsel in this action, or you
may do nothing and remain an absent class member.

Cohen Milstein Sellers & Toll PLLC has significant experience in prosecuting
investor class actions and actions involving securities fraud. The firm has
offices in Washington, D.C., New York, Chicago, Philadelphia and Palm Beach
Gardens, and is active in major litigation pending in federal and state courts
throughout the nation.

The firm’s reputation for excellence has repeatedly been recognized by courts
which have appointed the firm to lead positions in complex multi-district or
consolidated litigation. Cohen Milstein Sellers & Toll PLLC has taken a lead
role in numerous important cases on behalf of defrauded investors, and has
been responsible for a number of outstanding recoveries which, in the
aggregate, total over a billion dollars. Prior results do not guarantee a
similar outcome. For more information visit www.cohenmilstein.com.

If you have any questions about this notice or the action, please contact
either of the following:

Steven J. Toll, Esq.
Cameron Clark
Cohen Milstein Sellers & Toll PLLC
1100 New York Avenue, N.W.
West Tower, Suite 500
Washington, D.C. 20005
Telephone: (888) 240-0775 or (202) 408-4600
Email: stoll@cohenmilstein.com; cclark@cohenmilstein.com

Attorney Advertising

Contact:

Cohen Milstein Sellers & Toll PLLC
Steven J. Toll, Esq.
888-240-0775 or 202-408-4600
stoll@cohenmilstein.com
or
Cameron Clark
888-240-0775 or 202-408-4600
cclark@cohenmilstein.com
 
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