SAN FRANCISCO, April 1, 2020 /PRNewswire/ -- Schubert
Jonckheer & Kolbe LLP is investigating potential shareholder
derivative claims on behalf of Inovio Pharmaceuticals, Inc.
(NASDAQ: INO) ("Inovio" or the "Company"), related to allegedly
misleading statements about the company's development of a
purported vaccine for the novel coronavirus.
On March 3, 2020, Inovio issued a
press release entitled "Inovio Accelerates Timeline for COVID-19
DNA Vaccine INO-4800." The press release quoted Dr. J. Joseph Kim, Inovio's President and Chief
Financial Officer, stating that Inovio was "the only company with a
Phase 2 vaccine for a related coronavirus that causes Middle East
Respiratory Syndrome (MERS)" and that "[u]sing our modern DNA
medicines platform, we designed our DNA vaccine INO-4800 in three
hours after the publication of the genetic sequence of the novel
coronavirus that causes COVID-19."
Then, on March 9, 2020, Citron
Research stated via Twitter that the "SEC should immediately HALT
this stock [i.e., Inovio] and investigate the ludicrous and
dangerous claim that they designed a vaccine in 3 hours."
Following Citron Research's announcement, Inovio's stock price
has dropped precipitously and class actions have been filed against
the Company.
The Schubert Firm is investigating potential derivative claims
based on harm the Company has suffered as a result of potential
breaches of fiduciary duty by the Company's officers and directors
related to their roles in announcing Inovio's development of a
vaccine for COVID-19. For more information, please visit our
website at http://www.classactionlawyers.com/inovio.
If you currently own stock in Inovio and wish to obtain
additional information about shareholder claims and your legal
rights, please contact us today.
About Schubert Jonckheer & Kolbe LLP
Schubert
Jonckheer & Kolbe represents shareholders, employees, and
consumers in class actions against corporate defendants, as well as
shareholders in derivative actions against their officers and
directors. The firm is based in San
Francisco, and with the help of co-counsel, litigates cases
nationwide.
Contact
Willem F.
Jonckheer
Schubert Jonckheer & Kolbe
wjonckheer@sjk.law
Tel: 415-788-4220
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SOURCE Schubert Jonckheer & Kolbe LLP