Pomerantz Law Firm Announces Summary Notice of Pendency and Proposed Settlement of Hemispherx Biopharma, Inc. Class Action and Settlement Hearing – HEB

UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA

Frater v. Hemispherx Biopharma, Inc., et al.

No. 2:12-CV-07152 WY

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION AND PROPOSED SETTLEMENT, SETTLEMENT FAIRNESS HEARING, AND MOTION FOR AWARD OF ATTORNEYS’ FEES AND REIMBURSEMENT OF LITIGATION EXPENSES

TO:  All persons and entities who purchased or otherwise acquired Hemispherx Biopharma, Inc. (“Hemispherx”) common stock trading under ticker symbol HEB from March 14, 2012 through and including December 20, 2012, both dates inclusive (the “Class Period”). 

EXCLUDED FROM THE CLASS ARE DEFENDANTS, THE OFFICERS AND DIRECTORS OF HEMISPHERX, AND THEIR FAMILIES AND AFFILIATES.

NEW YORK, June 11, 2015 (GLOBE NEWSWIRE) -- YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of Pennsylvania, that a hearing will be held on July 22, 2015 at 9:30 a.m., before the Honorable William H. Yohn Jr. United States District Judge, at the courthouse for the United States District Court for the Eastern District of Pennsylvania, 601 Market Street, Philadelphia, PA 19106, to determine, among other things, whether: (1) a Settlement Class should be certified for purposes of the Settlement and whether Lead Plaintiff and its counsel have adequately represented the Class Members; (2) the proposed Settlement of the Class’s claims against the Defendants for $2,750,000.00 should be approved as fair, reasonable and adequate; (3) the proposed Plan of Allocation is fair, just, reasonable, and adequate; (4) the Court should permanently enjoin the assertion of any claims that arise from or relate to the subject matter of the above-captioned class action (“the Action”); (5) the Action should be dismissed with prejudice against the Defendants as set forth in the Stipulation of Settlement filed with the Court; (6) the application by Lead Counsel for an award of attorneys’ fees and expenses should be approved; and (7) an application for reimbursement of reasonable costs and expenses of Lead Plaintiff Member Marc Verheyen should be granted.

If you purchased or otherwise acquired Hemispherx common stock trading under ticker symbol HEB during the Class Period, your rights may be affected by this Action and the Settlement thereof.  If you have not received the detailed Notice of Pendency of Class Action and Proposed Settlement, Settlement Fairness Hearing, and Motion for Award of Attorneys’ Fees and Reimbursement of Litigation Expenses (the “Notice”) and Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: Hemispherx Securities Settlement Administrator, PO Box 30172 College Station, TX 77842-3172; by telephone at 866-374-7219; by e-mail at Info@HemispherxSettlement.com; or by visiting the website at: www.HemispherxSettlement.com.

If you are a member of the Class and wish to share in the Settlement money, you must submit a Proof of Claim no later than August 21, 2015 establishing that you are entitled to recovery.  As further described in the Notice, you will be bound by any judgment entered in the Action, regardless of whether you submit a Proof of Claim, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, by no later than July 8, 2015.  Any objections to the Settlement, Plan of Allocation or attorney’s fees and expenses must be filed, in accordance with the procedures set forth in the Notice, no later than July 8, 2015.

Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class: Joshua B. Silverman, Pomerantz LLP, 10 South La Salle Street, Ste. 3505, Chicago, IL 60603, Telephone:  312-377-1181

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE
CLERK’S OFFICE, THE DEFENDANTS, OR DEFENDANTS’ COUNSEL

DATED: May 7, 2015             BY ORDER OF THE UNITED STATES
                                               DISTRICT COURT FOR THE EASTERN
                                               DISTRICT OF PENNSYVLIANIA

The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los Angeles, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

         CONTACT:
         Robert S. Willoughby
         Pomerantz LLP
         rswilloughby@pomlaw.com