Securities class action lawsuit filed against Repros Therapeutics

Sep 5 2009

Feazell & Tighe, L.L.P. announces that a securities class action lawsuit has been filed in the United States District Court for the Southern District of Texas on behalf of all persons or entities who purchased or otherwise acquired the common stock of Repros Therapeutics Inc. (“Repros” or the “Company”) (Nasdaq:RPRX), between July 1, 2009 and August 3, 2009, inclusive (the “Class Period”).

Repros is a biopharmaceutical company that focuses on the development of drugs for the treatment of male and female reproductive disorders. Repros’ lead drug, Proellex, is being developed for the treatment of symptoms associated with uterine fibroids and endometriosis and as a pre-surgical treatment for anemia associated with excessive menstrual bleeding related to uterine fibroids. The Complaint alleges that Repros and certain of its executive officers violated federal securities laws by issuing material misrepresentations to the market concerning the Company’s business and prospects. Specifically, plaintiff alleges that throughout the Class Period defendants knew or recklessly disregarded and failed to disclose that Proellex elevated liver enzymes to dangerous levels in certain patients participating in the drug’s clinical trials, which could result in cancellation of the Proellex clinical trials.

On August 3, 2009, Repros announced that it was suspending Proellex clinical trials based in part on “the occurrence of clinically significant increases in liver enzymes.” As a result of this news, the price of Repros stock declined approximately 48% from the previous day’s closing price of $2.53, to close on August 3, 2009, at $1.31 per share on extremely high trading volume of more than 7.4 million shares traded.

No class has yet been certified in the above action. Until a class is certified, you are not represented by counsel unless you retain one. If you purchased Repros Therapeutics Inc. common stock between July 1, 2009 and August 3, 2009, you have certain rights, and have until October 6, 2009, to move for Lead Plaintiff status. To be a member of the class you need not take any action at this time, and you may retain counsel of your choice. If you wish to discuss this action or have any questions concerning this Notice or your rights or interests with respect to these matters, please contact Austin Tighe, Esquire, of Feazell & Tighe, L.L.P., 6300 Bridgepoint Parkway, Bridgepoint 2, Suite 220, Austin, Texas 78730, by telephone at (512) 372-8100, by email to [email protected] or visit our website at www.feazell-tighe.com.