SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Cellular Biomed...
April 27 2015 - 9:27PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Northern
District of California on behalf of purchasers of Cellular
Biomedicine Group Inc. (“CBMG” or the “Company”) (Nasdaq:CBMG)
securities during the period between June 18, 2014 and April 7,
2015, inclusive (the “Class Period”). Investors who wish to
become proactively involved in the litigation have until June 22,
2015 to seek appointment as lead plaintiff.
If you have suffered a loss from investment in CBMG
securities purchased on or after June 18, 2014 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you and
the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company securities during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of violations
of the Securities Exchange Act of 1934 and Section 17(b) of the
Securities Act of 1933 by virtue of the defendants’ failure to
disclose during the Class Period that the Company had used paid
stock promoters and that the Company’s “Car-T” technology had
experienced patient deaths and lacked any meaningful value.
According to the complaint, following an April 7,
2015 Seekingalpha.com report revealing the undisclosed stock
promotion, insider sales, that Company founders faced dishonesty
allegations and partnered with an individual serving 11 years in
prison for fraud, and that 50% of the Company’s quarterly SEC
filings raised accounting and financial integrity questions, the
value of CBMG shares declined significantly.
Attorneys at Brower Piven have extensive experience
in litigating securities and other class action cases and have been
advocating for the rights of shareholders since the 1980s. If
you choose to retain counsel, you may retain Brower Piven without
financial obligation or cost to you, or you may retain other
counsel of your choice. You need take no action at this time
to be a member of the class.
CONTACT:
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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