Company Website:
http://www.scott-scott.com
NEW YORK -- (Business Wire)
Scott+Scott,
Attorneys at Law, LLP (“Scott+Scott”), a national shareholder and
consumer rights litigation firm, reminds investors that June 13, 2017
is the last day to file lead plaintiff papers in the securities lawsuit
against Lion Biotechnologies, Inc. (“Lion” or the “Company”)
(NASDAQ:LBIO). The class action is on behalf of a class consisting of
all persons who purchased Lion common stock between November 14, 2013
and April 10, 2017, both dates inclusive (the “Class Period”). Lion
investors are encouraged to contact Scott+Scott toll free at (844)
818-6982 for more information.
Lion focuses on developing and commercializing cancer immunotherapy
products.
The lawsuit alleges that throughout the Class Period, Defendants made
false and/or misleading statements and/or failed to disclose that: (1)
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; (2) former
CEO Singh engaged a 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; (3) 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 (4) as a
result, defendants’ public statements were materially false and
misleading at all relevant times. When the true details entered the
market, the lawsuit claims that investors suffered damages.
What You Can Do
If you purchased Lion shares, you may have legal claims against the
Company. If you want to discuss filing lead plaintiff papers, or have
questions about your legal rights, please contact attorney Joseph
Pettigrew at (844) 818-6982, or at jpettigrew@scott-scott.com.
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities,
antitrust, and employee retirement plan actions throughout the United
States. The firm represents pension funds, foundations, individuals, and
other entities worldwide with offices in New York, London, Connecticut,
California, and Ohio.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170523005225/en/
Contacts:
Scott+Scott,
Attorneys at Law, LLP
Joseph Pettigrew, 844-818-6982
jpettigrew@scott-scott.com
Source: Scott+Scott, Attorneys at Law, LLP
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