La Jolla Pharmaceutical (LJPC) Announces the Adjournment of Special Meeting of Stockholders

November 16, 2009 5:04 PM EST

La Jolla Pharmaceutical Company (NASDAQ: LJPC) announced that its Special Meeting of Stockholders, which was originally convened on October 30, 2009 and reconvened on November 6, 2009 and November 13, 2009, was adjourned to November 24, 2009 at 11:00 a.m., local time, at 4365 Executive Drive, Suite 300, San Diego, California.

As described in the Proxy Statement distributed to stockholders on or about October 7, 2009, the stockholders of the Company are being asked to vote upon a proposal to approve the liquidation and dissolution of the Company pursuant to a plan of liquidation and dissolution. Approximately ninety-two percent (92%) of the Company's stockholders failed to return their proxy cards or otherwise indicate their votes with respect to this proposal prior to the start of the stockholders' meeting. To pass, this proposal must be approved by holders of at least a majority of the Company's outstanding voting shares and, as a result, abstentions and broker non-votes have the same effect as votes against the proposal.

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