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Biotech / Medical : Zonagen (zona) - good buy? -- Ignore unavailable to you. Want to Upgrade?

To: Craig Markell who wrote (3067)	3/26/1998 11:55:00 AM
From: Craig Markell	Respond to of 7041

Abbey, Gardy & Squitieri, LLP Announces Class Action Against Zonagen, Inc. NEW YORK, March 26 /PRNewswire/ -- The following statement was issued today by the law firm of Abbey, Gardy & Squitieri, LLP: YOU ARE HEREBY NOTIFIED that a Class Action has been commenced in the United States District Court for the Southern District of Texas, Houston Division, on behalf of all purchasers of Zonagen, Inc. (Nasdaq: ZONA - news) common stock between April 1, 1996 and November 18, 1997, inclusive (the ''Class Period''). The Complaint charges Zonagen and certain of its officers and directors with violations of federal securities laws. Among other things, plaintiff claims that defendants issued a series of materially false and misleading statements regarding Zonagen's VASOMAX and ImmuMax products and the intellectual property rights associated with those products. Specifically, plaintiff alleges that defendants misrepresented the patent protection which Zonagen enjoyed with respect to VASOMAX, and misrepresented that the Company had developed a new adjuvant, ImmuMax, when this compound was actually a previously patented adjuvant called Chitosan. On November 18, 1997, a third party issued a press release revealing that Zonagen did not have patent protection for its VASOMAX product. This, and later disclosures sent Zonagen's common stock price plummeting from a Class Period high of $44-1/8 on October 13, 1997 to a low of $14-15/16 on January 12, 1998, inflicting millions of dollars of losses upon unsuspecting Class members. Plaintiff seeks to recover damages on behalf of himself and all other purchasers of Zonagen common stock during the Class Period, excluding the defendants and their affiliates. Plaintiff is represented by Abbey, Gardy & Squitieri, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Visit the Abbey, Gardy & Squitieri, LLP website at a-g-s.com. If you are a member of the class described above, you may, not later than May 8, 1998, move the court to serve as lead plaintiff of the class, if you so choose. In order to serve as lead plaintiff, however, you must meet certain legal requirements. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact: