Paul L. Perito, Esquire,
Chairman, President and COO of Star Scientific, Inc. STSI, issued
the following statement on behalf of Star Scientific and Rock Creek
Pharmaceuticals, Inc.:
Numerous plaintiffs' class action law firms have been issuing press releases
and announcements since January seeking potential plaintiffs to retain them
and sue the Company. These press releases and announcements that are
appearing on various websites and in other media are not lawsuits. They are
attempts by plaintiffs' firms to solicit plaintiffs to form class action
lawsuits.
As of today, two shareholder complaints have been filed against Star
Scientific. The first complaint, filed in the United States District Court
for the Eastern District of Virginia on March 25, 2013, is named Reuter v.
Star Scientific, Inc., et al. A second complaint, subsequently filed in the
United States District Court for the District of Massachusetts on March 26,
2013, is named Boravian v. Star Scientific, Inc., et al. We believe that
both of these complaints are without merit and we will assert numerous
defenses to the claims being made. We have hired able and experienced trial
counsel who have successfully defended similar class action cases. We will
vigorously defend these suits, and we believe that we will ultimately be
successful.
Star Scientific will not be deterred by these distractions, as we stated
last week. The Company is proud of its worthy science based products, as
well as the fact that these products are used by thousands of satisfied,
repeat customers. We stand behind our scientific research, and that of
other credentialed third parties, which has been conducted on our anatabine
compound, as well as the reporting of the results of that research.
Accordingly, the Company will continue to focus on sales of its Anatabloc®
products, its new Anatabloc® facial creme, and the extension of its product
line.
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