Weiss & Yourman Announces Class Action Against Cell Pathways, Inc. on Behalf of Shareholders

A class action lawsuit has been filed on behalf of purchasers of Cell Pathways, Inc. securities between November 1, 1998, and February 2, 1999, for alleged violations of federal securities laws. The lawsuit, brought by law firm Weiss & Yourman, charges Cell Pathways, Inc., and certain of its officers and directors with issuing false and misleading statements regarding the company's financial condition and business prospects. The plaintiff seeks to recover damages on behalf of class members and is represented by Weiss & Yourman, a law firm with experience in prosecuting class actions.

Key Takeaways:

• Weiss & Yourman has filed a class action lawsuit on behalf of investors who purchased Cell Pathways, Inc. securities between November 1, 1998, and February 2, 1999.
• The lawsuit alleges that Cell Pathways, Inc., and its officers and directors made false and misleading statements about the company's financial condition and business prospects.
• The complaint charges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5).
• The plaintiff seeks to recover damages on behalf of class members and is represented by Weiss & Yourman.
• Investors who purchased Cell Pathways, Inc. securities during the specified period may be eligible to serve as lead plaintiff and can contact Weiss & Yourman for more information.
• Behram V. Parekh of Weiss & Yourman can be reached via email at wyinfo@wyca.com, on the Internet at www.wyca.com, or by telephone at 800-437-7918.

Statistics:

• November 1, 1998, to February 2, 1999: the timeframe during which Cell Pathways, Inc. securities were allegedly traded basis of false and misleading information.
• 60 days from February 16, 1999: the deadline for investors to move the Court to serve as lead plaintiff.

Sources:

• Weiss & Yourman Announces Class Action Against Cell Pathways, Inc. on Behalf of Shareholders (PRNewswire, February 26, 1999)