|[May 15, 2014]
The Shuman Law Firm Investigates Catalyst Pharmaceutical Partners, Inc.
BOULDER, Colo. --(Business Wire)--
Shuman Law Firm announces that it is investigating potential claims
against certain officers and directors of Catalyst Pharmaceutical
Partners, Inc. ("Catalyst" or the "Company") (Nasdaq: CPRX).
Catalyst is as a Florida-based development-stage specialty
pharmaceutical company. Catalyst's major product is Firdapse which is
used to treat Lambert-Eaton (News - Alert) Myasthenic Syndrome ("LEMS").
The Firm's investigation relates to allegations raised in a class action
lawsuit against the Company relating to its discloures regarding
Firdapse and LEMS. The class action complaint alleges that the Company's
senior officers and/or directors mislead investors by (i) concealing
that a competitor has been providing patients for free with a drug that
is nearly biologically equivalent to the drug for which Catalyst seeks
Food and Drug Administration ("FDA") approval; (ii) overstating the
total number of potential patients for Catalyst's drug; and (iii)
stating that there was "no effective…treatment currently available for
The class action also alleges that Jacobus Pharmaceuticals makes
3,4-DAP, a drug substantially equivalent to Firdapse. Moreover, on
October 18, 2013, a journalist revealed that Jacobus has been providing
3,4-DAP to patients, for free, pursuant to a number of compassionate use
programs, for twenty years. Once these allegedly misleading statements
were made public, Catalyst's stock price fell from $2.61 to $1.90 on
On March 26, 2014, the United States District Court Judge for the
Southern District of Florida, denied defendants' motion to dismiss the
class action lawsuit. The Court's Order stated that "in light of the
fact that 3,4-DAP is safe and effective, and that it is virtually
identical to Firdapse, the misstatement was highly material." The Judge
also stated "the misrepresentation came at a time when Defendants had
heightened incentives to inflate the value of Catalyst's stock."
If you currently own Catalyst common stock and are interested in
discussing your rights, or have information relating to this
investigation, please contact Kip B. Shuman or Rusty E. Glenn toll free
at (866) 974-8626 or email Mr. Shuman at email@example.com
or email Mr. Glenn at firstname.lastname@example.org.
The Shuman Law Firm represents investors throughout the nation,
concentrating its practice in stockholder litigation.
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