SAN DIEGO, CA / ACCESSWIRE / January 10, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain purchasers of shares against Iovance Biotherapeutics, Inc. (formerly NASDAQ: LBIO, now NASDAQ: IOVA), formerly Lion Biotechnologies, Inc., over alleged violations of Securities Laws.
Investors, who purchased shares of Iovance Biotherapeutics, Inc., formerly Lion Biotechnologies, Inc. (NASDAQ: IOVA, formerly NASDAQ: LBIO) in August 2013 or earlier, have certain options and should contact the Shareholders Foundation at email@example.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 (formerly NASDAQ: LBIO) (now NASDAQ: IOVA) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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SOURCE: The Shareholders Foundation, Inc.