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ImmunoCellular Therapeutics, Ltd. (IMUC)

NYSEMKT:IMUC

Summary

Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In ImmunoCellular Therapeutics, Ltd. To Contact The Firm

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ImmunoCellular Therapeutics, Ltd. (“ImmunoCellular” or the “Company”) (NYSEMKT:IMUC) of the June 30, 2017 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you invested in ImmunoCellular stock or options between May 1, 2012 and December 11, 2013 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. 

The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who purchased ImmunoCellular common stock between May 1, 2012 and December 11, 2013 (the “Class Period”).  The case, Arthur Kaye IRA FCC as Custodian DTD 6-8-00 v. ImmunoCellular Therapeutics, Ltd. et al, No. 2:17-cv-03250 was filed on May 1, 2017.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that ImmunoCellular retained Lidingo Holdings, LLC to publish promotional articles designed to unlawfully promote the Company and inflate the price of ImmunoCellular stock.  According to the lawsuit, as a result of this scheme, investors were led to believe that the Company’s clinical studies for its lead product candidate, ICT-107 were going well in order to inflate ImmunoCellular’s share price.

Specifically, after market close on December 11, 2013, the Company revealed that the primary endpoint for its ICT-107 Phase II study “did not reach statistical significance” because it failed to increase overall survival in patients diagnosed with glioblastoma multiforme.  On this news, ImmunoCellular's share price fell from $2.72 per share on December 11, 2013 to a closing price of $1.10 on December 12, 2013—a $1.62 or a 59.56% drop.

Then, on April 10, 2017, the Securities and Exchange Commission (“SEC”) announced “enforcement actions against 27 individuals and entities behind various alleged stock promotion schemes” that involved public companies including ImmunoCellular.  Additionally, as part of an SEC proceeding, the Company’s former Chief Executive Officer, Manish Singh acknowledged, among other things, that he participated “in a paid stock-touting scheme”.

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:
    ImmunoCellular Therapeutics, Ltd. (IMUC)
  •    

* 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:

  • 05/01/2017

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