NEW YORK, April 26, 2016 /PRNewswire/ -- Wolf Popper LLP is investigating potential securities fraud claims on behalf of investors in Intrexon Corporation (NYSE: XON), resulting from a report published by Spotlight Research, suggesting that Intrexon is overstating revenues by 50% through transactions with related parties. Intrexon investors can contact Fei-Lu Qian at 877.370.7703 or firstname.lastname@example.org for more information.
On April 21, 2016, Spotlight Research issued a report alleging that (1) Intrexon and a private investment firm operated by Intrexon's CEO "have created an intricate web of microcap, zero revenue, free cash flow negative companies that seem to exist solely for the purpose of inflating XON's revenue and profitability;" (2) XON "is forced to partner with" shady companies as legitimate companies will not "partner with XON in their apparent scheme to create fake revenues;" and (3) there are large discrepancies "between the revenue that XON reports and the payments that customers claim to have made to XON."
On this disclosure, Intrexon common stock plummeted $9.73 per share or nearly 26%, to close at $27.10 per share on April 21, 2016.
Wolf Popper LLP has extensive experience representing shareholders in securities class actions and has successfully recovered billions of dollars for defrauded investors. The reputation and expertise of the firm in representing shareholders has been repeatedly recognized by the courts, which have appointed the firm to major positions in securities litigation. See www.wolfpopper.com
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SOURCE Wolf Popper LLP