Court Appoints Rigrodsky & Long, P.A. As Co-Lead Counsel in Novelos Therapeutics, Inc. Securities Fraud Class Action

Rigrodsky & Long, P.A. Appointed Co-Lead Counsel in Securities Fraud Class Action Against Novelos Therapeutics, Inc.

Rigrodsky & Long, P.A. brought a federal securities class action on behalf of all purchasers of the common stock of Novelos Therapeutics, Inc. (the “Company”), who purchased or otherwise acquired the Company’s common stock between December 14, 2009 and February 24, 2010, inclusive (the “Class Period”), seeking to pursue remedies under the Securities Exchange Act of 1934, alleging that defendants made materially false and misleading statements concerning the Phase 3 clinical trials of the Company’s leading new drug candidate NOV-002 during the Class Period.

On October 1, 2010, the United States District Court for the District of Massachusetts appointed Rigrodsky & Long, P.A. as co-lead counsel for the proposed class.