BOSTON, March 3, 2017 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston-based securities litigation firm representing investors nationwide, reminds investors of PixarBio Corporation ("PixarBio" or the "Company") (OTCMKTS: PXRB) of the March 27, 2017 lead plaintiff deadline.
If you purchased PixarBio securities in either the Company's private placement, or on the open market between October 31, 2016 and January 20, 2017, and wish to serve as lead plaintiff, you are encouraged to contact attorney Bradley Vettraino at (617) 398-5600, by email at email@example.com, or by visiting www.blockesq.com/pixarbio.
On January 3, 2017, PixarBio's CEO announced a purported attempt by the Company to acquire InVivo Therapeutics Holdings Corp. ("InVivo") in a $100 million takeover bid. InVivo refuted PixarBio's purported offer as "not credible." On January 23, 2017, the SEC announced that it had halted trading in the securities of PixarBio, citing concerns about possible "manipulative or deceptive activities" in the market for the Company's stock.
On this news, PixarBio's stock plunged more than 35%, causing tens of millions in losses to investors.
The lawsuit subsequently filed by Block & Leviton against PixarBio and its CEO, alleging that Defendants failed to disclose and/or made false and/or misleading statements regarding: 1) the company's business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the company's current and prospective development efforts, and (4) that, as a result, the Company's business, operations, and prospects, were false and misleading.
As a member of the class, you may seek to file a motion to serve as a lead plaintiff or take no action and remain an absent class member. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
This notice may constitute attorney advertising.
Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/block--leviton-reminds-pixarbio-corporation-investors-of-important-deadline-in-securities-fraud-class-action-300417970.html
SOURCE Block & Leviton LLP