Investor Alert: Law Offices of Howard G. Smith Announces That a Class Action Has Been Filed on Behalf of Cellular Biomedicine...
09 June 2015 - 1:13AM
Business Wire
Law Offices of Howard G. Smith announces that a class action has
been filed on behalf of investors of Cellular Biomedicine Group
Inc. (NASDAQ:CBMG) who purchased shares between June 18, 2014 and
April 7, 2015 (the “Class Period”). Purchasers of Cellular
Biomedicine Group Inc. (“Cellular Biomedicine”) securities are
encouraged to contact Howard G. Smith, Esq. to discuss your legal
rights in the pending class action.
The complaint alleges that, among other allegations, the Company
used paid stock promoters to achieve its $500 million valuation,
but failed to disclose the use of promoters in its regulatory
filings. On April 7, 2015, Seeking Alpha published a report on
Cellular Biomedicine Group, which asserts that: (i) it has achieved
an unsustainable valuation with paid stock promotion; (ii) its
“CAR-T” technology has experienced patient deaths and is worthless;
(iii) its founders face multiple allegations of dishonesty and are
responsible for an alleged illegal offshore stem cell clinic; and
(iv) it has multiple accounting and financial integrity issues. On
this news, shares of Cellular Biomedicine Group fell sharply,
declining $7.00 per share, or nearly 22%, to close on April 7, 2015
at $25.22 per share. The lawsuit seeks to recover damages suffered
by investors as a result of the Company’s alleged fraud.
If you suffered a loss in Cellular Biomedicine you have until
June 22, 2015 to request that the Court appoint you as lead
plaintiff. Your ability to share in any recovery doesn’t require
that you serve as a lead plaintiff.
If you purchased shares of Cellular Biomedicine during the Class
Period, contact Howard G. Smith, Esquire, of Law Offices of Howard
G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania
19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847,
or by email to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20150608006090/en/
Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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