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Abeona Therapeutics Inc. (ABEO)

NASDAQ:ABEO

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In Abeona Therapeutics Inc. To Contact The Firm Before Lead Plaintiff Deadline

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Abeona Therapeutics Inc. (“Abeona” or the “Company”) (NASDAQ:ABEO), formerly known as PlasmaTech Biopharmaceuticals, Inc. (“PlasmaTech”), of the February 14, 2017 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against the Company and certain officers.

The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased PlasmaTech securities between March 31, 2015 and June 19, 2015, and/or purchased Abeona securities between June 22, 2015 and December 9, 2016 (the “Class Period”).  The case, Reilly et al v. Abeona Therapeutics, Inc. et al, No. 1:16-cv-09730 was filed on December 16, 2016, and has been assigned to Judge Paul Adam Engelmayer.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failed to disclose that: (1) the science behind Abeona’s proposed gene therapy treatment for Sanfilippo syndrome is unviable; (2) that the Company’s Executive Chairman and Principal Executive Officer, Steven H. Rouhandeh (“Rouhandeh”), previously worked in a high ranking position for a biotech promoter who was convicted of securities fraud and involved in manipulating biotech stocks; and (3) as a result, Abeona’s statements about its business, operations and prospects were materially false and misleading and/or lacked a reasonable basis.

Specifically, on December 12, 2016, Mako Research published a report on Abeona stating, among other things, the Company’s science underpinning ABO¬101 and ABO¬102 is unviable, and that Rouhandeh previously worked in a position of authority at D. Blech & Co. — a firm named after now–convicted felon David Blech.

On this news, Abeona’s share price fell from $5.15 per share on December 9, 2016 to a closing price of $4.45 on December 12, 2016—a $0.70 or a 13.59% drop.

Take Action

If you invested in Abeona stock or options during the Class Period and would like to discuss your legal rights, please fill out the form below. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.  Faruqi & Faruqi, LLP also encourages anyone with information regarding Abeona’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

Request Information

Please tell us about yourself by completing the form and we will provide you with additional
information on how to join the Class Action at no cost to you.

  • Case:
    Abeona Therapeutics Inc. (ABEO)
  •    

* The submission of this form does not create an attorney-client relationship.

Contact Counsel

Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 12/20/2016

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