LOS ANGELES, May 5, 2017 /PRNewswire/ -- Goldberg Law PC, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against ImmunoCellular Therapeutics, Ltd. ("ImmunoCellular" or the "Company") (NYSE MKT: IMUC) for violations of §10(b) and §20(a) of the Securities Exchange Act of 1934 and U.S. Securities and Exchange Commission Rule 10b-5 promulgated thereunder.
Investors who purchased the Company's shares between May 1, 2012 and December 11, 2013 inclusive (the "Class Period"), are encouraged to contact the firm in advance of the June 30, 2017 lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class Period, click here to participate.
In addition, we encourage you to contact Michael Goldberg or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars, Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your rights free of charge. You can also reach us through the firm's website at http://www.goldberglawpc.com/, or by email at email@example.com.
The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Complaint alleges that during the Class Period, ImmunoCellular violated federal securities laws by making materially false and misleading public statements. In September 2011, ImmunoCellular hired Lidingo Holdings, LLC, a stock promotion firm, to inflate the value of the Company's shares. As a result, investors were led to believe that the Company's clinical studies for its lead product candidate, ICT-107, were going well. On December 11, 2013, ImmunoCellular announced 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 this news was announced, ImmunoCellular's stock price dropped materially, which caused investors harm. On April 10, 2017, as part of a U.S. Securities & Exchange Commission proceeding, the Company's former CEO Manish Singh acknowledged participating "in a paid stock-touting scheme."
Goldberg Law PC represents shareholders around the world and specializes in securities class actions and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Goldberg Law PC, Los Angeles
Michael Goldberg, Esq., 800-977-7401
Brian Schall, Esq., 800-977-7401
Sohrab Izadi, Esq., 800-977-7401
Sherin Mahdavian, Esq., 800-977-7401
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SOURCE Goldberg Law PC