SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses In Excess Of $100,000 From Investment In Cellular Biomed...
May 28 2015 - 5:25PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20150528006708/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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