10.09.2010 22:29:00
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Kahn Swick & Foti, LLC and Former Louisiana Attorney General Notify XenoPort Shareholders With Large Financial Interests of Securities Fraud Class Action - XNPT
Kahn Swick & Foti, LLC ("KSF”) (www.ksfcounsel.com), a nationally recognized Louisiana-based law firm with offices also in New York, and KSF partner Charles C. Foti, Jr., former Attorney General of Louisiana, announce that shareholders with large financial interests have only until September 27, 2010 to request to be appointed lead plaintiff in a class action filed in the United States District Court for the Northern District of California on behalf of purchasers of XenoPort, Inc. ("XenoPort”) (NASDAQ:XNPT - News) common stock during the period between May 5, 2009 and February 17, 2010 (the "Class Period”). Any XenoPort shareholder in the class period or not and/or any XNPT shareholder that still holds the stock may contact KSF to learn more information about this case.
If you are a XenoPort shareholder who has suffered losses on your investment during this period and would like to receive a copy of this complaint and discuss your rights as class members and/or apply for lead plaintiff, you may, without obligation or cost to you, prior to September 27, 2010, e-mail or call Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free at 1-866-467-1400, ext. 200, or after hours via cell phone 504-301-7900 or, KSF Director of Client Relations, Neil Rothstein, Esq. (neil.rothstein@ksfcounsel.com), toll free at 877/694-9510, or via cell phone 330/860-4092. You may also visit KSF's website at www.ksfcounsel.com to contact the firm online. A "lead plaintiff" is a representative party that acts on behalf of other class members in directing and controlling the litigation. To learn more about KSF and how becoming a lead plaintiff may benefit you, you may contact Mr. Kahn or Mr. Rothstein.
On February 17, 2010, defendants publicly disclosed that the FDA had declined approval of the drug Horizant. On this news, XenoPort’s stock fell $12.93 per share to close at $6.67 per share on February 18, 2010 – a one-day decline of 65% on volume of 36.5 million shares, over 16 times the average three-month daily volume.
KSF is a law firm focused on securities class action litigation with offices in Louisiana and New York. KSF’s lawyers have many years of experience litigating complex securities class actions and have recovered tens of millions of dollars over the past two years for aggrieved investors. KSF attorneys have significant experience in representing both institutional and individual shareholders in securities fraud litigation nationwide. KSF encourages both institutional and individual purchasers of XenoPort to contact the firm to discuss the case and lead plaintiff position.
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