BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Optimer Pharmaceuticals, Inc. (OPTR)


4/11/2012 10:03:53 AM

NEW YORK, April 11, 2012 /PRNewswire/ -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of the securities of Optimer Pharmaceuticals, Inc. ("Optimer" or the "Company") (NasdaqGS: OPTR), concerning whether the company and certain of its officers and directors have violated federal securities laws.

On April 9, 2012, shares of Optimer fell 7% to $13.35 in midday trading after firing its chairman, CFO and a vice president citing lapses in corporate governance practices related to the company's relationship with its Taiwanese affiliate. The maker of diarrhea drug Dificid, removed its co-founder/chairman Michael Chang for his actions as Optimer's representative on the board of Optimer Biotechnology Inc ("OBI"), its 43 percent-owned independent affiliate based in Taiwan. Dr. Chang was removed from the chairmanship because he failed "to identify and effectively manage compliance, record keeping and conflict of interest issues in connection" to a grant of 1.5 million shares he received from a Taiwanese affiliate, Optimer said. CFO John Prunty and Youe-Kong Shue, a vice president, were let go because they failed to follow the proper procedures after finding out about the grant, Optimer said. The company said it has disclosed the matter to the relevant U.S. authorities and is cooperating with them in their review.

If you are aware of any facts relating to this investigation, or purchased shares of Optimer, you can assist this investigation by contacting either Peretz Bronstein or Eitan Kimelman of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484 or via email eitan@bgandg.com. Those who inquire by e-mail are encouraged to include their mailing address and telephone number.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration.

Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Eitan Kimelman, 212-697-6484
eitan@bgandg.com

SOURCE Bronstein, Gewirtz & Grossman, LLC



Read at BioSpace.com

   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES