NeurogesX, Inc NGSX Securities Stock Fraud

Company:	NeurogesX, Inc
Ticker Symbol:	NGSX
Class Period:	May-9-11 to Sep-27-11
Date Filed:	Apr-24-12
Lead Plaintiff Deadline:	Jun-23-12
Court:	Southern District of New York
Allegations:

New York, NY: A securities class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased NeurogesX, Inc. ("NeurogesX" or the "Company") common stock between May 9, 2011 and September 27, 2011.

The complaint alleges that the Company's Board of Directors issued materially false and misleading statements and/or failed to disclose material adverse facts concerning the employment of Dr. Jeffrey K. Tobias, the Company's former Chief Medical Officer and Executive Vice President of Research and Development. Specifically, the complaint alleges that representatives of NeurogesX, including Tobias himself, failed to disclose and/or actively concealed the fact that Tobias was seeking other employment. As a result of the aforementioned allegations, NeurogesX's stock traded at artificially high prices.

On September 27, 2011, the Company announced Tobias' resignation. Upon this announcement, shares of NeurogesX declined almost 40%. By October 3, 2011, the Company had lost over half its market value.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

NeurogesX, Inc NGSX Securities Fraud Legal Help

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Published on Apr-24-12