INOVIO 24 HOUR DEADLINE ALERT: FORMER LOUISIANA ATTORNEY GENERAL AND KAHN SWICK & FOTI, LLC REMIND INVESTORS WITH LOSSES IN EXCESS OF $100,000 of Deadline in Class Action Lawsuit Against Inovio Pharmaceuticals - INO
NEW ORLEANS, May 11, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until May 12, 2020 to file lead plaintiff applications in a securities class action lawsuit against Inovio Pharmaceuticals (NasdaqGS: INO), if they purchased the Company's shares between February 14, 2020 and March 9, 2020, both dates inclusive (the "Class Period"). This action is pending in the United States District Court for the Eastern District of Pennsylvania.
What You May Do
If you purchased shares of Inovio and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-ino/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 12, 2020.
About the Lawsuit
Inovio and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 9, 2020, pre-market, Citron Research published a statement highlighting the Company's "ludicrous and dangerous claim that they designed a [COVID-19] vaccine in 3 hours" and calling for an SEC investigation into the claims.
On this news, the price of Inovio's shares plummeted damaging investors, closing at $5.70 per share on March 10, 2020, a drop of 71%.
The case is McDermid v. Inovio Pharmaceuticals, Inc., et al., 2:20-cv-01402.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.