Faruqi & Faruqi, LLP’s national practice focuses on complex civil litigation. The firm practices in the areas of Securities, Merger & Transactional, Shareholder Derivative, Antitrust, Consumer Class Action, and Wage & Hour litigation.
Monday, May 11, 2015
Faruqi & Faruqi Alerts: Cellular Biomedicine Group, Inc.
CELLULAR BIOMEDICINE GROUP INVESTOR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Cellular Biomedicine Group, Inc. To Contact The Firm - CBMG
Faruqi & Faruqi, LLP, a leading national securities law firm, notifies investors in Cellular Biomedicine Group, Inc. (“Cellular” or the “Company”) (NASDAQ: CBMG) of the June 22, 2015 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against Cellular and certain executives.
A complaint has been filed in the Northern District of California on behalf of all persons who purchased or otherwise acquired Cellular securities from June 18, 2014 through April 7, 2015 (the “Class Period”).
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that: (i) Cellular reached an unsustainable valuation of $500 million as a result of utilizing paid stock promoters; and (ii) the “Car-T” technology had experienced patient deaths and did not have any meaningful valuation.
On April 7, 2015, Seekingalpha.com published a report alleging that the Company had engaged in a fraudulent scheme which misled investors.
Following this news, the price of Cellular’s stock declined by $7.00 per share, or over 21%, to close at $25.22 on April 7, 2015.
If you invested in Cellular stock or options during the Class Period and would like to discuss your legal rights, you can contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding the Company’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.