A Deadline is coming up on June 22, 2015 in the lawsuit for investors in Cellular Biomedicine Group Inc (NASDAQ:CBMG and NASDAQ:CBMG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/22/2015 -- The Shareholders Foundation announced that a deadline is coming up on June 22, 2015 in the lawsuit filed for certain investors in NASDAQ:CBMG shares over alleged securities laws violations by Cellular Biomedicine Group Inc.
Investors who purchased shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) have certain options and there are strict and short deadlines running. Deadline: June 22, 2015. NASDAQ:CBMG stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of purchasers of Cellular Biomedicine Group Inc (NASDAQ:CBMG) common shares between June 18, 2014 and April 7, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between June 18, 2014 and April 7, 2015, defendants made allegedly false and/or misleading statements and/or allegedly failed to disclose that Cellular Biomedicine Group achieved an unsustainable $500m valuation by using paid stock promoters, yet failed to disclose the use of such promoters in its regulatory filings pursuant to Section 17(b) of the Securities Act of 1933 , that Cellular Biomedicine Group's "Car-T" technology had experienced patient deaths and lacked any meaningful valuation, and that as a result of the above, Cellular Biomedicine Group's financial statements were materially false and misleading at all relevant times.
On April 7, 2015, a report was published on Cellular Biomedicine Group, which alleged that it has achieved an unsustainable valuation with paid stock promotion, that its "CAR-T" technology has experienced patient deaths and is worthless, that its founders face multiple allegations of dishonesty and are responsible for an alleged illegal offshore stem cell clinic, and that it has multiple accounting and financial integrity issues. On April 8, 2015, Cellular Biomedicine Group Inc (NASDAQ:CBMG) responded to the statements and allegations. Cellular Biomedicine Group Inc said that the statements and allegations are false and misleading. Shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) declined to as low as $21.41 per share on April 8, 2015.
On June 18, 2015, NASDAQ:CBMG shares closed at $34.57 per share.
Those who purchased shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego