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Shareholder Class Action Filed Against Rigel Pharmaceuticals, Inc. by the Law Firm of Barroway Topaz Kessler Meltzer & Check, LLP
Date:2/20/2009

s when it presented the full results of the Study at a meeting of the American College of Rheumatology ("ACR") and on an investor conference call. Those results contained adverse information that had been omitted form the Company's December 13, 2007 press release and Form 8-K, as well as from the Registration Statement and the subsequent presentations. Specifically, the Company disclosed that certain patients in the clinical trial taking the compound experienced an increase in blood pressure. Upon the release of this news, shares of the Company's stock plummeted $5.57 per share, or 38 percent, to close on October 28, 2008 at $8.84 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Barroway Topaz Kessler Meltzer & Check which prosecutes class actions in both state and federal courts throughout the country. Barroway Topaz Kessler Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Barroway Topaz Kessler Meltzer & Check or to sign up to participate in this action online, please visit www.btkmc.com

If you are a member of the class described above, you may, not later than April 7, 2009, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a
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SOURCE Barroway Topaz Kessler Meltzer & Check, LLP
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