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Harwood Feffer LLP Files Class Action On Behalf Of Purchasers Of XenoPort, Inc. Securities For The Enlarged Class Period March

^{Published on 2010-09-24 17:41:08 - Market Wire}
 

NEW YORK--([ BUSINESS WIRE ])--The law firm of Harwood Feffer LLP announces that it filed a class action lawsuit on September 24, 2010, on behalf of purchasers of the securities of XenoPort, Inc. (aXenoPorta or the aCompanya) (NASDAQ:XNPT) during the period March 16, 2009 through February 17, 2010, inclusive (the aClass Perioda). Shareholders may obtain a copy of the complaint by calling our offices or emailing us at the e-mail addresses listed below. The action is pending in United States District Court for the Northern District of California.

The lawsuit alleges, among other things, that the Company knew but failed to disclose that its experimental drug Horizant showed an increased likelihood of pancreatic cancer in laboratory rats. The FDA declined to approve the drug for treatment of Restless Legs Syndrome in February 2010, even though the drug was previously approved for treatment of more serious conditions. As a result, the Company and certain of its officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading statements or knowingly or recklessly failing to know of those statements, causing the Companya™s stock to trade at inflated prices based on those statements. This lawsuit enlarges the class period from that alleged in the suit filed July 28, 2010, by plaintiff Tom Bellomo, Case No. 10-cv-03301-RMW (U.S.D.C., ND.Cal.), with the Class Period in this action commencing March 16, 2009 instead of May 5, 2009.

If you bought XenoPort securities from March 16, 2009 through February 17, 2010, no later than September 27, 2010, you may move the court to appoint you as lead plaintiff, a representative party that acts on behalf of other class members. The court must determine whether the class membera™s claim is typical of other membersa™ claims, and whether the class member will adequately represent the class. Your ability to recover is not, however, affected by your decision whether or not to serve as a lead plaintiff.

Harwood Feffer has taken a leading role in many important actions on behalf of defrauded shareholders and has recovered hundreds of millions of dollars in those efforts. The Harwood Feffer website ([ www.hfesq.com ]) has more information about the firm. If you wish to discuss this action with us or have any questions concerning this notice or your rights and interests with regard to the case, please contact the following: Samuel K. Rosen, Esq., Harwood Feffer LLP, 488 Madison Avenue, New York, New York 10022, (toll free) 877-935-7400, e-mail: [ srosen@hfesq.com ].