updated 10/4/2010 2:45:13 AM ET 2010-10-04T06:45:13

NEW YORK, Oct. 1, 2010 (GLOBE NEWSWIRE) -- The Rosen Law Firm today announced that it has filed a class action lawsuit on behalf of investors who purchased the common stock of AspenBio Pharma, Inc. ("AspenBio" or the "Company") (Nasdaq:APPY) between February 22, 2007 and July 19, 2010, inclusive (the "Class Period").

To join the AspenBio class action, visit the firm's website at http://www.rosenlegal.com , or call Laurence Rosen, Esq. or Phillip Kim, Esq., toll-free, at 866-767-3653; you may also email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action. The class action is pending in the U.S. District Court for Central District of California.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.

The Complaint asserts violations of the federal securities laws against AspenBio and certain of its officers and directors for issuing materially false and misleading statements about the effectiveness of AppyScore as a test to diagnose appendicitis. According to the Complaint, Defendants were aware or recklessly disregarded information that AppyScore was not effective in detecting appendicitis as it could not differentiate between appendicitis and other medical conditions. According to the Complaint, this adverse information caused the Company's stock to drop, causing investors substantial losses.

If you wish to serve as lead plaintiff, you must move the Court no later than November 30, 2010. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com. You may also visit the firm's website at http://www.rosenlegal.com .

The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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