Federman & Sherwood announces that a securities class action lawsuit has been filed against Columbia Laboratories, Inc. (NASDAQ: CBRX)

Oklahoma City, OK (February 2, 2012) -- On February 1, 2012, a class action lawsuit was filed in the United States District Court for the District of New Jersey against Columbia Laboratories, Inc. (NASDAQ: CBRX). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is December 6, 2010 through January 20, 2012. More specifically, this litigation was filed because the Company led investors to believe that the Federal Drug Administration would approve a progesterone vaginal gel 8%, PROCHIEVE 8%, a medication developed to prevent preterm births in women with short cervices. In a January 17, 2012 background document for Meeting of the FDA Advisory Committee for Reproductive Health Drugs, it states that PROCHIEVE 8% did “not support the efficacy of progesterone gel compared with placebo in reducing the risk of preterm births before 33 completed weeks of gestation among women with a short cervical strength” and on January 20, 2012 the Advisory Committee voted to not recommend approval of PROCHIEVE 8%. In light of this information, Columbia Laboratories’ shares declined significantly from an average price in January 2012 of $2.57 per share to a low of $.71 per share after approval from the FDA was not granted.

Plaintiff seeks to recover damages on behalf of all Columbia Laboratories, Inc. shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Monday, April 2, 2012 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to kln@federmanlaw.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Lynn.