April 23, 2012
/PRNewswire/ -- Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Southern District of
on behalf of investors who purchased NeurogesX, Inc. ("NeurogesX" or the "Company") (Nasdaq: NGSX) common stock between
May 9, 2011
September 27, 2011
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. There is no cost or obligation to you.
The complaint alleges that the Company's Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of Dr.
Jeffrey K. Tobias
, the Company's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX, including Tobias himself, failed to disclose and/or actively concealed the fact that Tobias was seeking other employment. As a result of the aforementioned allegations, NeurogesX's stock traded at artificially high prices.
September 27, 2011
, the Company announced Tobias' resignation. Upon this announcement, shares of NeurogesX declined almost 40%. By
October 3, 2011
, the Company had lost over half its market value.
If you suffered a loss in NeurogesX you have 60 days from today
to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. To obtain additional information, contact
Joseph E. Levi, Esq.
either via email at
or by telephone at (877) 363-5972, or visit
Levi & Korsinsky is a national firm with offices in
and Washington D.C. The firm has extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. The attorneys at Levi & Korsinsky have been appointed by numerous courts throughout the country to serve as lead counsel on behalf of shareholders in major securities lawsuits and have successfully recovered multimillion-dollar damages awards on behalf of investors. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY
10004 Tel: (212) 363-7500Toll Free: (877) 363-5972Fax: (212) 363-7171
SOURCE Levi & Korsinsky