NEW YORK, May 7 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP filed a class action lawsuit in the United States District Court for the District of New Jersey, on behalf of all persons who purchased or otherwise acquired the securities of Genta, Inc. ("Genta" or the "Company") between September 10, 2003 and May 3, 2004, inclusive, (the "Class Period") against defendants Genta and certain officers of the Company.
The case name is Yarbro v. Genta, Inc., et al. A copy of the complaint filed in this action is available from the Court, or can be viewed on the Wolf Haldenstein Adler Freeman & Herz LLP website at http://www.whafh.com/cases/genta.htm.
The complaint alleges that defendants violated the federal securities laws by issuing materially false and misleading statements throughout the Class Period that had the effect of artificially inflating the market price of the Company's securities.
The Complaint alleges that during the Class Period, defendants falsely represented to the investing public that Genasense did not appear to be associated with serious adverse reactions in the Phase 3 clinical trial. In fact, defendants knew that the use of Genasense was associated with increased toxicity and discontinuations due to adverse events. Furthermore, the defendants knew that U.S. Food and Drug Administration approval of the Genasense New Drug Application was unlikely because the increased toxicity and adverse events associated with the use of Genasense outweighed its marginal benefits.
If you purchased or otherwise acquired Genta securities during the Class Period, you may request that the Court appoint you as lead plaintiff by July 5, 2004. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Wolf Haldenstein, or other counsel of your choice, to serve as your counsel in this action.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has approximately 60 attorneys in various practice areas; and offices in Chicago, New York City, San Diego, and West Palm Beach. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions, please contact Wolf Haldenstein Adler Freeman & Herz LLP at 270 Madison Avenue, New York, New York 10016, by telephone at (800) 575-0735 (Fred Taylor Isquith, Esq., Gregory M. Nespole, Esq., Christopher S. Hinton, Esq., George Peters, or Derek Behnke), via e-mail at classmember@whafh.com or visit our website at http://www.whafh.com/. All e-mail correspondence should make reference to Genta.
Wolf Haldenstein Adler Freeman & Herz LLPCONTACT: Fred Taylor Isquith, Esq., Gregory M. Nespole, Esq.,Christopher S. Hinton, Esq., George Peters, or Derek Behnke, all of WolfHaldenstein Adler Freeman & Herz LLP, 1-800-575-0735, classmember@whafh.com
