Northfield Laboratories, Inc. Shareholder Class Action
According to the Notice:
If approved by the Court, the settlement will provide $1,500,000, plus interest (the "Settlement Amount"), to pay claims of investors who purchased Northfield Stock during the period from August 16, 2004 through and including March 2, 2006 (the "Class Period").
The Settlement represents an average recovery of $0.054 per share of Northfield Stock for the 27.770 million shares outstanding as of March 2006, the end of the Class Period. A share may have been traded more than once during the Class Period. This estimate solely reflects the average recovery per outstanding share if Northfield Stock. The indicated average recovery per share will be the total average recovery for all purchasers of that share. This is not an estimate of the actual recovery per share you should expect. Your actual recovery will depend on the aggregate losses of all Class Members, the date(s) you purchased and sold Northfield Stock, and the total number and amount of claims filed.
The Settlement resolves the lawsuit concerning whether Northfield and its officers and directors made false and misleading statements, in violation of federal securities laws, based upon the allegations set forth in the Consolidated Second amended Complaint, including that : (1) Northfield allegedly concealed that it had terminated or closed its October 2000 trial of Acute Normovelemic Hemodilution for Northfield's blood-substitute PolyHeme because of adverse effects; and (2) Northfield allegedly knew or should have known that use of PolyHeme had adverse effects; and (3) Northfield allegedly concealed that use of PolyHeme had adverse effects. Defendants Northfield, Steven A. Gould, M.D. ("Gould"), and Richard E. DeWoskin ("DeWoskin") deny all allegations of misconduct.