GLEN ALLEN, Va., April 30, 2014 /PRNewswire/ -- Star Scientific, Inc., (NASDAQ: STSI) announced that the Company has retained Shareholder Intelligence Services, LLC ("ShareIntel"), a provider of stock surveillance services and applications, to obtain, aggregate, track and analyze shareholder trading information on the Company. Through ShareIntel's patented, proprietary service offerings, Star Scientific is able to obtain share trading analytic metrics that are designed to help coordinate, monitor and enhance corporate governance, shareholder communication, regulatory compliance, and surveillance of trading in STSI shares.
Michael J. Mullan, MBBS (M.D.) Ph.D, Star Scientific's Chairman and CEO, said, "We believe it is very beneficial to our stockholders to insure that the trading behavior of our stock is monitored, accounted for, and reviewed. Our partnership with ShareIntel is allowing us to quantify a significant amount of data, providing us an avenue for appropriate action, as necessary."
The Company believes that partnering with ShareIntel is just one initiative that will help protect shareholder value by allowing the Company to better monitor trading activity, including potential violations of SEC Regulation SHO, which governs stock and option share locate, close out, and fail to deliver requirements.
Certain statements contained in this release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to statements identified by words such as "believes," "expects," "anticipates," "estimates," "intends," "plans," "targets," "projects" and similar expressions. The statements in this release are based upon the current beliefs and expectations of our company's management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Numerous factors could cause or contribute to such differences, including, but not limited to, results of clinical trials and/or other studies, the challenges inherent in new product development initiatives, including the continued development and market acceptance of our nutraceutical dietary supplements products, the effect of any competitive products, our ability to license and protect our intellectual property, our ability to raise additional capital in the future that is necessary to maintain our business, changes in government policy and/or regulation, potential litigation by or against us, any governmental review of our products or practices and the outcome of the ongoing investigations as well as other risks discussed from time to time in our filings with the Securities and Exchange Commission, including, without limitation, our annual report on Form 10-K for the fiscal year ended December 31, 2013 filed on March 17, 2014. We undertake no duty to update any forward-looking statement or any information contained in this press release or in other public disclosures at any time.
About Star Scientific
Star Scientific, Inc., through its wholly owned subsidiary, Rock Creek Pharmaceuticals, is a technology oriented company principally focused on the discovery, development and commercialization of new drugs, formulations and compounds that provide therapies for inflammatory conditions, clinical immunology, neurological disease and behavioral health. Additionally, Star Scientific is engaged in the manufacturing, sale, and marketing of nutraceutical dietary supplements designed to promote maintenance of a healthy metabolism and lifestyle.
For more information, visit: http://www.starscientific.com
Vice President, Corporate Strategy, Development, Investor Relations
Rock Creek Pharmaceuticals
SOURCE Star Scientific, Inc.