NFLD Northfield Laboratories Inc. (MM)

The law firm of Spector, Roseman & Kodroff, P.C. announces that a securities class action lawsuit was commenced in the United States District Court for the Northern District of Illinois, on behalf of purchasers of the common stock of Northfield Laboratories, Inc. ("Northfield" or the "Company") (NASDAQ:NFLD) between February 20, 2004 through February 21, 2006, inclusive (the "Class Period"). The Complaint alleges that Northfield and its chairman and chief executive officer, Steven A. Gould, violated the federal securities laws when the Company issued a series of materially false and misleading statements concerning the safety and history of the Company's sole product, a blood substitute called PolyHeme. Specifically, the complaint against Northfield alleges that the Company failed to disclose that a significant portion of patients taking PolyHeme in a clinical study suffered heart attacks within seven days of taking PolyHeme - as compared to zero heart attacks from patients receiving real blood in the same study. As a result of these statement, the stock price of Northfield was artificially inflated causing investors to suffer damages. On February 22, 2006, The Wall Street Journal reported that Northfield had "quietly shut down" and "didn't publicly disclose the results" of a study of PolyHeme in which 10 of 81 patients who received the blood substitute suffered heart attacks within 7 days, two of whom later died. According to The Wall Street Journal, none of the 71 patients who received real blood in the trial were found to have had a heart attack. Citing internal Company documents, The Wall Street Journal reported that Northfield had begun the trial, known as Acute Normovolemic Hemodilution ("ANH" or "aneurysm study") in the late 1990s. That same day, the Company issued a press release responding to The Wall Street Journal article admitting that it had not published the full data upon closing the study. Shares of Northfield fell from $12.23 to close at $11.30 the following day. The shares declined even further in the ensuing weeks, closing on March 14, 2006 at $9.57. If you purchased Northfield securities during the Class Period, you may, no later than May 16, 2006, move to be appointed as a Lead Plaintiff in this class action. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation. The Private Securities Litigation Reform Act of 1995 directs Courts to assume that the class member(s) with the "largest financial interest" in the outcome of the case will best serve the class in this capacity. Courts have discretion in determining which class member(s) have the "largest financial interest," and have appointed Lead Plaintiffs with substantial losses in both absolute terms and as a percentage of their net worth. If you have sustained substantial losses in Northfield securities during the Class Period, please contact Spector, Roseman & Kodroff, P.C. at classaction@srk-law.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you need take no affirmative steps at this time. If you wish to join this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel Robert M. Roseman toll-free at 888-844-5862 or via E-mail at classaction@srk-law.com. For more detailed information about the firm please visit its website at http://www.srk-law.com. Spector, Roseman & Kodroff, P.C., located in Philadelphia, Pennsylvania, concentrates its practice in complex litigation including actions dealing with securities laws, antitrust, contract and commercial claims. The firm is active in major litigation pending in federal and state courts throughout the United States. The firm's reputation for excellence has been recognized on repeated occasions by courts which have appointed the firm as lead counsel in numerous major class actions involving violations of the federal securities laws and the federal antitrust laws, and consumer fraud. As a result of the efforts of the firm, and its members, hundreds of millions of dollars have been recovered through judgments and settlements on behalf of thousands of defrauded shareholders and companies.