Shapiro Haber & Urmy LLP and Liggio Benrubi PA Announce the Filing of a Class Action Lawsuit Against Accentia Biopharmaceuticals, Inc. and Officers of Accentia and Biovest International, Inc.

Business Wire

BOSTON--(BUSINESS WIRE)--

Shapiro Haber & Urmy LLP and Liggio Benrubi PA filed a class action on July 26, 2013 against Accentia Biopharmaceuticals, Inc. (“Accentia”) (ABPI) and certain officers and directors of Accentia and Biovest International, Inc. (“Biovest”) (OTCQB:BVTI), a majority-owned subsidiary of Accentia, for violations of federal securities laws. The case has been filed in the United States District Court for the Middle District of Florida and is entitled Hill v. Accentia Biopharmaceuticals, et al., C.A. No. 13-cv-01945.

The Complaint alleges that the FDA informed Biovest that the results of a Phase III clinical trial for BiovaxID, a potential vaccine for the treatment of non-Hodgkin’s lymphoma, did not support an application for approval of BiovaxID. Despite this information, Defendants made numerous statements in press releases and securities filings that gave the misleading impression that the trial results were statistically significant and that Biovest was on track to obtain FDA approval. The Complaint alleges that these misstatements and omissions by Defendants misrepresented and/or omitted material facts to the investing public, in violation of Sections 10(b) and 20(a) of the Securities Exchange Act.

The class action is brought on behalf of all persons and entities who purchased common stock of either Accentia or Biovest from July 26, 2008 through August 14, 2012.

If you purchased shares of either Biovest or Accentia common stock during the above time period, you may move the court to appoint you as lead plaintiff no later than 60 days from today.

The factual and legal bases for the Plaintiffs’ claims are set forth in greater detail in the Complaint, which is available at www.shulaw.com or can be obtained, without any obligation, from counsel for the Plaintiffs, Shapiro Haber & Urmy LLP or Liggio Benrubi PA. More information about the law firms and their qualifications is available at www.shulaw.com or www.liggiolaw.com. If you would like more information about this case, please contact Shapiro Haber & Urmy LLP at the firm’s telephone numbers below or by email.

Contact:
Shapiro Haber & Urmy LLP
Thomas G. Shapiro, 800-287-8119 or 617-439-3939
cases@shulaw.com
or
Liggio Benrubi PA
Jeffrey Liggio, 877-604-3100 or 561-616-3333

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