INVESTOR ALERT: Glancy Prongay & Murray LLP Investigates Claims on Behalf of Investors of Cellular Biomedicine Group, Inc.
June 02 2015 - 10:38AM
Business Wire
Glancy Prongay & Murray LLP announces that it is
investigating potential claims on behalf of investors in Cellular
Biomedicine Group, Inc. (“Cellular Biomedicine” or the “Company”)
(NASDAQ: CBMG). Investors who purchased Cellular Biomedicine prior
to April 7, 2015 are encouraged to contact Lesley Portnoy, at (888)
773-9224 or (310) 201-9150, or at shareholders@glancylaw.com to
discuss this matter. If you inquire by email please include your
mailing address, telephone number and number of shares
purchased.
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 hired undisclosed stock promoters, sold large amounts of
insider shares, that the Company’s 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. Cellular Biomedicine investors were damaged by
the sharp decline in the stock price.
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/20150602006421/en/
Glancy Prongay & Murray LLP1925 Century Park East, Suite
2100Los Angeles, CA 90067Lesley PortnoyCasey Sadler(310)
201-9150(888) 773-9224shareholders@glancylaw.comwww.glancylaw.com
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