NEW YORK, June 1, 2017 /PRNewswire/ -- Juan Monteverde, founder and managing partner at Monteverde & Associates PC, a boutique securities firm headquartered at the Empire State Building in New York City, announces that a class action lawsuit has been filed in United States District Court for the Central District of California against ImmunoCellular Therapeutics (NYSE MKT: IMUC)("ImmunoCellular Therapeutics" or the "Company") on behalf of purchasers of the Company's securities between May 1, 2012 and December 11, 2013, inclusive (the "Class Period").
The lawsuit is based on whether ImmunoCellular Therapeutics and its executives violated federal securities law by issuing false and/or misleading statements that ImmunoCellular retained Lidingo Holdings, LLC to publish articles designed to unlawfully promote the Company. Investors were led to believe that the Company's clinical studies for its lead product candidate, ICT-107 were going well in order to inflate ImmunoCellular's share price.
After market close on December 11, 2013, the Company revealed that the primary endpoint for its ICT-107 Phase II study "did not reach statistical significance" because it failed to increase overall survival in patients diagnosed with glioblastoma multiforme. When the information was revealed to the public, the value of ImmunoCellular stock dropped, causing losses to its shareholders.
Mr. Monteverde would like to personally discuss with you how to potentially recover your monetary losses, if incurred during the Class Period.
If you wish to serve as lead plaintiff, you must move the Court no later than June 30, 2017. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Click here for more information: http://monteverdelaw.com/securities/. It is free and there is no cost or obligation to you.
Monteverde & Associates PC is a boutique class action securities and consumer litigation law firm committed that has recovered millions of dollars and is committed to protecting shareholders and consumers from corporate wrongdoing. Monteverde & Associates PC lawyers have significant experience litigating Mergers & Acquisitions and Securities Class Actions, whereby they protect investors by recovering money and remedying corporate misconduct.
Juan E. Monteverde, Esq.
MONTEVERDE & ASSOCIATES PC
The Empire State Building
350 Fifth Ave, Suite 4405
New York, NY 10118
United States of America
Tel: (212) 971-1341
Attorney Advertising. (C) 2017 Monteverde & Associates PC. Prior results do not guarantee a similar outcome with respect to any future matter.
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SOURCE Monteverde & Associates PC