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Weiss & Yourman Files Class-Action Lawsuit Against Cell Pathways Inc.

Strategic Insights

— 1 min read

Weiss & Yourman, a law firm with extensive experience in prosecuting class actions on behalf of investors and shareholders, has filed a class-action lawsuit against Cell Pathways Inc. and certain of its officers and directors. The lawsuit alleges violations of federal securities laws, specifically Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5), in regards to false and misleading statements about Cell Pathways' financial condition and business prospects. The class-action lawsuit aims to recover damages on behalf of class members who purchased Cell Pathways securities between November 1, 1998, and February 2, 1999.

Key Takeaways:

  • Weiss & Yourman filed a class-action lawsuit against Cell Pathways Inc. and certain of its officers and directors on behalf of investors who purchased Cell Pathways securities between November 1, 1998, and February 2, 1999.
  • The lawsuit alleges violations of federal securities laws, including Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10-b(5).
  • Cell Pathways is accused of issuing false and misleading statements about the company's financial condition and business prospects.
  • The lawsuit seeks to recover damages on behalf of class members.
  • Weiss & Yourman is representing the class and has significant experience in prosecuting class actions on behalf of investors and shareholders.
  • Behram V. Parekh of Weiss & Yourman is counsel for the plaintiff and can be contacted via e-mail at wyinfo@wyca.com, on the Internet at www.wyca.com, or by telephone at 800/437-7918.
  • Class members have 60 days from February 16 to move the court to serve as lead plaintiff if they wish to do so.

Statistics:

  • November 1, 1998, marks the start of the period during which investors purchased Cell Pathways securities.
  • February 2, 1999, is the end of the period during which investors purchased Cell Pathways securities.
  • 60 days are allocated for class members to move the court to serve as lead plaintiff.

Sources:

  • Weiss & Yourman has filed a class-action lawsuit on behalf of purchasers of Cell Pathways Inc. (Nasdaq:CLPA) securities between November 1, 1998, and February 2, 1999, for violations of federal securities laws. - Weiss & Yourman, February 19, 1999
  • Business Wire, February 19, 1999

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