AspenBio Pharma, Inc. ("AspenBio" or the Company) is a diagnostics company based in Colorado.

According to a press release dated October 1, 2010, 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.

On December 1, 2010, the Defendants filed a motion to dismiss the case, and another motion to transfer the case to the District of Colorado. On January 20, 2011, Judge George H. Wu granted the Defendant's motion to transfer the case to the United States District Court for the District of Colorado.

On July 11, 2011, Judge Robert E. Blackburn granted the motion to appoint Mike Marnhout as lead Plaintiff and approved the Rosen Law Firm, P.A. as lead Counsel. On August 23, 2011, the lead Plaintiff filed an Amended Class Action Complaint. The Defendants responded by filing a motion to dismiss on October 7, 2011.

On September 13, 2012, the Court issued an Order granting Defendants' motions to dismiss. The Plaintiffs' claims against Defendants were dismissed without prejudice and judgment was entered on behalf of Defendants. On October 12, 2012, the Plaintiffs filed a Notice of Appeal of the above Order.

On October 17, 2014, the Court of Appeals issued an Order affirming the judgment of the District Court.