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Stock Market & Financial Investment News

News Breaks
March 10, 2014
08:54 EDTHEBHemispherx wins federal lawsuit regarding investment banking fees
Hemispherx Biopharma announced after more than a week in trial, a federal jury in Atlanta took only an hour to determine there was no merit to a brokerage firm's claim that Hemispherx owed the firm over $6M for commissions from private sales of stock in 2009. MidSouth Capital, sued Hemispherx in 2010 for commissions it claimed it was due under the terms of a 2008 contract which Hemispherx never signed. Investment bank Rodman & Renshaw sold more than $31M worth of Hemispherx stock in mid-2009. Rodman & Renshaw was promptly paid the commission it was due under the terms of its engagement agreement. MidSouth, whose brokers, Rob Rosenstein and Adam Cabibi, were terminated after they failed to secure a closing on several failed convertible debenture proposals, also demanded payment of a commission on the subsequent Rodman & Renshaw stock sale.
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August 26, 2015
10:01 EDTHEBHemispherx says court upholds defense in case brought by Cato Capital
Hemispherx Biopharma announced that on Friday the Third Circuit Court of Appeals upheld the company's defense of a case brought by Cato Capital, one of its former investment banks, thus affirming the trial court judgment Hemispherx obtained in September 2014, when the company fully prevailed in a federal lawsuit brought against the company following trial. The appellate panel affirmed the United States District Court for the District of Delaware, which had dismissed all claims against Hemispherx and subsequently ordered Cato to pay Hemispherx attorney's fees and costs in the amount of $770,852.76.The company's President, Thomas K. Equels, stated: "We are gratified that the distinguished panel vindicated our interpretation of the contract. Our lead counsel, James J. Black, III did an outstanding job interpreting this Delaware law based agreement, and properly navigating this dispute through the courts. Now, in furtherance of our corporate policy to seek redress against plaintiffs who bring meritless claims against the company, we will pursue Cato Capital to the fullest extent of the law to collect on the award of attorney's fees and costs."
August 24, 2015
08:37 EDTHEBHemispherx enters into supply agreement with Gulf Coast Regional Blood Center
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August 19, 2015
14:02 EDTHEBHemispherx to hold an open house
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August 17, 2015
08:47 EDTHEBHemispherx extends strategic alliance with Armada Health Care
Hemispherx Biopharma announced that as the company works toward the re-launch of Alferon N, it has extended its agreement with Armada Health Care for two years, through August 14, 2017, for the sales/marketing of Alferon N Injection, its FDA approved natural interferon, in the U.S. Under this Agreement, the Company will manufacture and supply Alferon N Injection to physicians and patients through Armada's national network of specialty pharmacies. Armada has agreed to provide ongoing sales and marketing to support the product's re-launch. Specialty Distributor, BioRidge Pharma, has received a two year contract extension and will warehouse, ship, and distribute Alferon N Injection on an exclusive basis for U.S. sales.

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