| Company: | Northfield Laboratories, Inc. |
| Ticker Symbol: | NASD: NFLD |
| Class Period: | February 20, 2004 to February 21, 2006 |
| Date Filed: | Mar-20-06 |
| Lead Plaintiff Deadline: | May-19-06 |
| Court: | Northern District, IL |
| Allegations: |
A lawsuit seeking class action status has been filed in the United States District Court for the Northern District of Illinois on behalf of all persons who purchased or otherwise acquired the publicly traded securities of Northfield Laboratories ("Northfield" or the "Company") (Nasdaq:NFLD) between February 20, 2004 and February 21, 2006, inclusive, (the "Class Period"). Also included are all those who purchased shares in the secondary offering in February 2005.
The Complaint alleges that defendants violated federal securities laws by issuing a series of materially false statements regarding the safety of PolyHeme, a blood substitute. On February 22, 2006, The Wall Street Journal reported that data from defendants' ANH clinical trial revealed that ten of 81 patients who received PolyHeme suffered a heart attack within seven days, and two of those died. The data further showed defendants that none of the 71 patients in the ANH clinical trial who received real blood were found to have suffered a heart attack. After receiving this data, defendants shut down the ANH clinical study in 2000 and kept the highly adverse trial results secret.
In a February 22, 2006 press release responding to The Wall Street Journal article, defendants did not dispute the data concerning the patient heart attacks and deaths from the ANH clinical trial and admitted that they did not publish the full data upon the closing of the ANH trial. On this news, Northfield's stock fell to a close of $11.64 per share. On February 24, 2006, United States Senator Charles E. Grassley, Chairman of the U.S. Senate Finance Committee announced that he had launched an inquiry into the matter.
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 alleges that defendants violated federal securities laws by issuing a series of materially false statements regarding the safety of PolyHeme, a blood substitute. On February 22, 2006, The Wall Street Journal reported that data from defendants' ANH clinical trial revealed that ten of 81 patients who received PolyHeme suffered a heart attack within seven days, and two of those died. The data further showed defendants that none of the 71 patients in the ANH clinical trial who received real blood were found to have suffered a heart attack. After receiving this data, defendants shut down the ANH clinical study in 2000 and kept the highly adverse trial results secret.
In a February 22, 2006 press release responding to The Wall Street Journal article, defendants did not dispute the data concerning the patient heart attacks and deaths from the ANH clinical trial and admitted that they did not publish the full data upon the closing of the ANH trial. On this news, Northfield's stock fell to a close of $11.64 per share. On February 24, 2006, United States Senator Charles E. Grassley, Chairman of the U.S. Senate Finance Committee announced that he had launched an inquiry into the matter.
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.
