Law Offices of Howard G. Smith Commences Investigation on Behalf of Applied DNA Sciences Inc. Investors
October 29 2015 - 3:38PM
Business Wire
Law Offices of Howard G. Smith announces that it is
investigating potential claims on behalf of investors of Applied
DNA Sciences Inc. (“Applied DNA Sciences” or the “Company”)
(Nasdaq: APDN) concerning the Company’s and its officers’ possible
violations of federal securities laws.
On October 29, 2015, Seeking Alpha published a report alleging
that the Company “has spent 6.6x more on insider compensation than
R&D” and “is now facing imminent insolvency.” The report also
accuses the Company of engaging in fraudulent accounting practices
involving a “Valeant-esque” relationship with a “questionably
opaque” UK company called Patronus Systems Ltd.
On this news, Applied DNA Sciences shares fell as much as 60%
during intra-day trading on October 29, 2015, thereby injuring
investors.
If you purchased Applied DNA Sciences securities, 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.
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/20151029006626/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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