Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Inovio Pharmaceuticals, Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Inovio Pharmaceuticals, Inc. (“Inovio” or the “Company”) (NASDAQ:INO) of the May 12, 2020 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 Inovio stock or options between February 14, 2020 and March 9, 2020 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you. 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 firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of all those who purchased Inovio common stock between February 14, 2020 and March 9, 2020 (the “Class Period”). The case, McDermid v. Inovio Pharmaceuticals, Inc. et al., No. 2:20-cv-01402 was filed on March 12, 2020, and has been assigned to Judge Gerald J. Pappert.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements about the Company’s development of a purported vaccine for the novel coronavirus and its ability to begin human trials as early as April 2020.
On March 9, 2020, Citron Research published the following statement on Twitter about the Company: "SEC should immediately HALT this stock and investigate the ludicrous and dangerous claim that they designed a vaccine in 3 hours. This has been a serial stock promotion for years. This will trade back to $2 investors have been warned."
On this news, the Company's stock price fell from an intraday high of $19.36 per share on March 9, 2020 to a close of $5.70 per share on March 10, 2020: a $13.66 or 70.56% drop.
Inovio Pharmaceuticals, Inc. (INO)
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Filed on 03/18/2020
Lead Plaintiff Deadline 05/12/2020
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Richard W. Gonnello email@example.com Phone (212) 983-9330 Fax (212) 983-9331