INVESTOR ALERT: Investigation of Cellular Biomedicine Group Inc. Announced by The Law Offices of Howard G. Smith
May 20 2015 - 11:28AM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Cellular
Biomedicine Group, Inc. (“Cellular Biomedicine” or the “Company”)
(NASDAQ: CBMG). Investors that have purchased shares of Cellular
Biomedicine, have information or would like to learn more about
these claims, or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Howard G. Smith, Esquire, of Law Offices of Howard G.
Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020
by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by
email to howardsmith@howardsmithlaw.com, or visit our website at
http://www.howardsmithlaw.com.
The investigation concerns the Company’s and its executives'
alleged violation of the securities laws, by virtue of Cellular
Biomedicine’s failure to disclose to investors 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.
On April 7, 2015 a seekingalpha.com report revealed that the
Company engaged undisclosed stock promoters, had large insider
sales, that the Company founders faced dishonesty allegations and
used the services of an individual serving 11 years in prison for
fraud. In addition, the report also revealed that 50% of the
Company’s quarterly SEC filings raised accounting and financial
integrity questions. Following publication of the seekingalpha.com
report the value of CBMG shares declined significantly, falling
$7.00 per share, or 22%, to close on April 7, 2015 at $25.22.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150520006080/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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