Lawsuit for invesotrs who purchased shares of Lion Biotechnologies Inc (NASDAQ:LBIO), now Iovance Biotherapeutics, Inc NASDAQ:IOVA pending and investors who currently hold NASDAQ:IOVA should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 03/13/2018 -- A lawsuit a lawsuit is pending for certain purchasers of formerly NASDAQ:LBIO, now NASDAQ:IOVA shares against Iovance Biotherapeutics, Inc., formerly Lion Biotechnologies, Inc over alleged violations of Securities Laws.
Investors who purchased NASDAQ:LBIO and currently hold NASDAQ:IOVA shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 14, 2017, a lawsuit was filed against Iovance Biotherapeutics, Inc, formerly Lion Biotechnologies, Inc over alleged securities laws violations. The plaintiff alleged that the defendants made false and/or misleading statements and/or failed to disclose that Lion Biotechnologies, through its former CEO Manish Singh, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion Biotechnologies to potential investors that purported to be independent from the company when, in fact, they were paid promotions, that former CEO Singh engaged a notorious stock promotion firm to pay writers to publish articles about Lion Biotechnologies on investment websites as well as to coordinate the distribution of articles to thousands of electronic mailboxes, that former CEO Singh actively participated in the promotional work for Lion Biotechnologies and understood that the promotion firm was using writers who would not disclose that Lion Biotechnologies was indirectly compensating them for their publications, and that as a result, defendants' public statements were materially false and misleading at all relevant times. On September 8, 2017 an amended complaint was filed and on November 3, 2017 the defendants filed their motion to dismiss the case.
Those who purchased NASDAQ:LBIO and currently hold NASDAQ:IOVA shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com