INVESTOR NOTICE: MURRAY, FRANK & SAILER LLP HAS FILED A SHAREHOLDER CLASS ACTION AGAINST ATHEROGENICS, INC. - AGIX
New York, NY (PrimeZone) January 6, 2005 - Murray, Frank & Sailer LLP has filed a class action lawsuit in the United States District Court for the Southern District of New York, civil action number 05-cv-61, on behalf of shareholders who purchased or otherwise acquired the securities of Atherogenics, Inc. (“AGIX” or the “Company”) (NASDAQ: AGIX) between September 27, 2004 and December 31, 2004, inclusive (the “Class Period”).
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The complaint charges AGIX, Russell Medford, Mark Colonnese, and Robert Scott with violations of United States securities laws. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company hyped the results of an inconclusive and limited study of AGI-1067; (2) that the statistically impressive levels of plaque reduction, described by AGIX in the initial announcement, varied significantly from the results achieved by the Cleveland Clinic; (3) that the Company was burning cash at a high rate; and (4) that the Company manipulated the study's results in order to enter into a strategic partnership with a major pharmaceutical company to complete the development and commercialization of AGI-1067.
Murray, Frank & Sailer LLP and its predecessor firms have devoted its practice to shareholder class actions and complex commercial litigation for more than thirty years and have recovered hundreds of millions of dollars for shareholders in class actions throughout the United States.
If you purchased or otherwise acquired Atherogenics securities on any world exchange between September 27, 2004 and December 31, 2004, and sustained damages, you may, no later than March 7, 2005, move the Court to serve as lead plaintiff. Shareholders outside the United States may also join the action, regardless of which exchange was used to purchase the securities. To serve as lead plaintiff, however, you must meet certain legal requirements. You can join this class action as lead plaintiff online at http://www.murrayfrank.com/CM/NewCases/NewCases.asp. If you would like to discuss this action, this announcement, or your rights and interests, please contact plaintiff’s counsel Eric J. Belfi or Aaron D. Patton of Murray, Frank & Sailer LLP.
Murray, Frank & Sailer LLP
Eric J. Belfi
Fax: (212) 682-1892
Email: [email protected]