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BIODELIVERY SCIENCES INTL INC
Symbol U : BDSI
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INVESTOR ALERT: Former Attorney General of Louisiana and Kahn Swick & Foti, LLC Investigate BioDelivery Sciences International, Inc., Following Notice of Non-Reliance of Financial Statements and Restatement

2013-02-28 23:40 ET - News Release


NEW ORLEANS -- (Business Wire)

Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC announce that KSF has commenced an investigation into BioDelivery Sciences International, Inc. (Nasdaq: BDSI).

KSF’s investigation is focusing on whether BioDelivery Sciences and/or its officers and directors violated state or federal securities laws.

If you have information that would assist KSF in its investigation, or would like to discuss your legal rights, you may, without obligation or cost to you, e-mail or call KSF Managing Partner, Lewis Kahn (lewis.kahn@ksfcounsel.com), toll free, 877-515-1850, or via cell phone any time at 504-301-7900.

The current investigation focuses on BioDelivery’s announcement that it will restate its prior reported financial results, previously certified and filed with the Securities Exchange Commission.

According to the Company, $14.4 million of the $30 million non-refundable upfront license fee received in January 2012 had been prematurely recorded as revenues. Accordingly, BioDelivery Sciences would be forced to restate its unaudited financial statements for the first three quarters of fiscal year 2012.

About Kahn Swick & Foti, LLC

KSF, whose partners include the Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities class action and shareholder derivative litigation with offices in New York and Louisiana. KSF's lawyers have significant experience litigating complex securities class actions nationwide on behalf of both institutional and individual shareholders.

To learn more about KSF, you may visit www.ksfcounsel.com.

Contacts:

Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner, 877-515-1850
or after hours via cell phone 504-301-7900
lewis.kahn@ksfcounsel.com

Source: Kahn Swick & Foti, LLC

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