Shareholder Alert: Robbins LLP Reminds Investors the Lead Plaintiff Deadline is Approaching for Inovio Pharmaceuticals, Inc. ...
April 27 2020 - 3:48PM
Business Wire
Shareholder rights law firm Robbins LLP reminds investors that a
purchaser of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) filed a
class action complaint against the Company for alleged violations
of the Securities Exchange Act of 1934 between February 14, 2020
and March 9, 2020. Inovio is a late-stage biotechnology Company
that focuses on the discovery, development, and commercialization
of DNA-based immunotherapies and vaccines.
If you suffered a loss as a result of Inovio's misconduct, click
here.
Inovio Pharmaceuticals, Inc. (INO) Accused of False COVID-19
Vaccine Claims
According to the complaint, on March 11, 2020, the World Health
Organization ("WHO") declared the coronavirus COVID-19 outbreak a
global "pandemic" due to its extraordinary "speed and scale of
transmission." In response to mounting public concern, on February
14, 2020, Inovio's CEO announced on national news that the Company
had developed a COVID-19 vaccine "in a matter of about three hours"
and re-affirmed this statement two weeks later in a well-publicized
meeting with President Trump. As a result, Inovio's stock price
more than quadrupled. However, contrary to these claims, on
March 9, 2020, Citron Research exposed Invoio's misstatements,
calling for an SEC investigation into Inovio's "dangerous claim
that they designed a [COVID-19] vaccine in 3 hours." Consequently,
Inovio admitted the Company had not developed a COVID-19 vaccine
but rather a "vaccine construct." On this news, Inovio's stock
price declined to a mere $5.70 per share, representing a 71%
decline from the Company's class period high of $19.36 per
share.
If you purchased Inovio Pharmaceuticals, Inc. (INO)
securities between February 14, 2020 and March 9, 2020, you have
until May 12, 2020, to ask the court to be appointed lead plaintiff
for the class.
Contact us to learn more: Leo Kandinov (800) 350-6003
lkandinov@robbinsllp.com Shareholder Information Form
Robbins LLP is a nationally recognized leader in shareholder
rights law. The firm represents individual and institutional
investors in shareholder derivative and securities class action
lawsuits, and has helped its clients realize more than $1 billion
of value for themselves and the companies in which they have
invested. Click here to receive free alerts from Stock Watch when
companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar
outcome.
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Leo Kandinov Robbins LLP 5040 Shoreham Place San Diego, CA 92122
lkandinov@robbinsllp.com (619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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