|Company:||Cellular Biomedicine Group, Inc|
|Class Period:||Jun-18-14 to Apr-7-15|
|Lead Plaintiff Deadline:||Jul-6-15|
|Court:||Northern District of California|
The complaint has been filed in the Northern District of California on behalf of all persons who purchased or otherwise acquired Cellular securities from June 18, 2014 through April 7, 2015 (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that during the Class Period, the Company made false and/or misleading statements and/or failed to disclose that: (i) Cellular reached an unsustainable valuation of $500 million as a result of utilizing paid stock promoters; and (ii) the "Car-T" technology had experienced patient deaths and did not have any meaningful valuation.
On April 7, 2015, Seekingalpha.com published a report alleging that the Company had engaged in a fraudulent scheme which misled investors.
Following this news, the price of Cellular's stock declined by $7.00 per share, or over 21%, to close at $25.22 on April 7, 2015.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.