NEW YORK, Aug. 17, 2009 (GLOBE NEWSWIRE) -- The Brualdi Law Firm, P.C. announces that a lawsuit has been commenced in the United States District Court for the Southern District of Texas on behalf of purchasers of Repros Therapeutics Inc. ("Repros" or the "Company") (Nasdaq:RPRX) stock during the period between July 1, 2009 and August 3, 2009, inclusive (the "Class Period") for violations of the federal securities laws.
No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Repros common stock during the Class Period, and wish to move the court for appointment of lead plaintiff, you must do so by October 6, 2009. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the Company during the Class Period. You do not need to seek appointment as a lead plaintiff in order to share in any recovery.
To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Sue Lee at The Brualdi Law Firm, P.C. 29 Broadway, Suite 2400, New York, New York 10006, by telephone toll free at (877) 495-1187 or (212) 952-0602, by email to slee@brualdilawfirm.com or visit our website at http://www.brualdilawfirm.com.
Repros focuses on the development of oral small-molecule drugs for the treatment of male and female reproductive disorders. Repros' lead drug, Proellex, is being developed for the treatment of symptoms associated with uterine fibroids and endometriosis and as a pre-surgical treatment for anemia associated with excessive menstrual bleeding related to uterine fibroids. The Complaint alleges that throughout the Class Period defendants knew or recklessly disregarded that their public statements concerning Repros' business and prospects were materially false and misleading. Specifically, plaintiff alleges that defendants knew or recklessly disregarded and failed to disclose that Proellex elevated liver enzymes to dangerous levels in certain patients participating in the drug's clinical trials, which could result in cancellation of the Proellex clinical trials.