SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 From Investment in Cellular Biomed...
May 18 2015 - 4:46PM
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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