IsoRay shares gained more than 2% in trading Tuesday after the company said it retained a law firm to defend it and certain officers from several lawsuits filed against the company.
The company said the lawsuits relate to a May 20, 2015 press release issued by IsoRay regarding the May 19, 2015 online publication of the peer-reviewed article in the journal Brachytherapy titled “Analysis of Stereotactic Radiation vs. Wedge Resection vs. Wedge Resection Plus Cesium-131 Brachytherapy in Early-Stage Lung Cancer” by Dr. Bhupesh Parashar, et al.
IsoRay claims the lawsuits are without merit and hired Wilson Sonsini Goodrich & Rosati to defend it. Recently ISR was up on light volume of 263,530 shares. Average daily volume is 3 million shares.