Glancy Prongay & Murray Commences Investigation on Behalf of Applied DNA Sciences Inc. Investors
November 03 2015 - 6:53PM
Business Wire
Glancy Prongay & Murray LLP (“GPM”) 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 $3.83, or more
than 54%, to close at $3.20 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 Lesley
Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los
Angeles, California 90067 at 310-201-9150, Toll-Free at
888-773-9224, by email to shareholders@glancylaw.com, or visit our
website at http://www.glancylaw.com. If you inquire by email please
include your mailing address, telephone number and number of shares
purchased.
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/20151103007055/en/
Glancy Prongay & Murray LLP, Los AngelesLesley Portnoy,
310-201-9150 or
888-773-9224shareholders@glancylaw.comwww.glancylaw.com
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