NEW YORK, June 20, 2019 /PRNewswire/ -- Milberg Phillips Grossman LLP ("MPG") (https://milberg.com/) announced that a class action was commenced for holders of Bone Biologics Corporation (OTCQB: BBLG) ("BBLG" or the "Company") common stock as of the occurrence of a change-of-control transaction ("Transaction") undertaken in June of 2018 (the "Class," which excludes Defendants and certain related/affiliated persons or entities). This action was filed and is pending in the United States District Court for the District of Massachusetts and is captioned AFH Holding & Advisory et al v. Stroever et al., No. 1:18-cv-11612.
The Private Securities Litigation Reform Act of 1995 ("PSLRA") permits any investor who is a member of the putative class to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff, you must move the Court as soon as possible and no later than 60 days from today. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiffs' counsel, Kent A. Bronson of MPG, for more information at [email protected], or via e-mail at [email protected] .
The complaint charges BBLG and certain of its officers and directors and officers with violations of Section 14(c) of the Securities Exchange Act of 1934 and Rule 14c-6, as well as other state law causes of action including breach of fiduciary duty by the BBLG's directors and controlling stockholders, in connection with the Transaction. Section 14(c) of the Securities Exchange Act of 1934 and Rule 14c-6, generally prohibits filing information statements with the SEC containing information that's false or misleading with respect to any material fact or has any materially false or misleading omissions.
BBLG was founded to pursue regenerative medicine for bone and is reportedly undertaking groundbreaking work and building on unprecedented research on the NELL-1 molecule that has produced a significant number of studies and publications in peer-reviewed scientific literature. Bone Biologics is reportedly currently focusing its development efforts for its bone graft substitute product on bone regeneration in spinal fusion. NELL-1 is a recombinant human protein growth factor that is essential for normal bone development.
Plaintiffs seek to recover damages on behalf of minority, non-controlling stockholders of BBLG, the "Class," as defined in the operative complaint. The plaintiffs are represented by MPG LLP, which has extensive experience in prosecuting investor class actions, including actions involving financial fraud.
Please visit https://milberg.com/ for more information.
Milberg Phillips Grossman LLP
Kent A. Bronson
SOURCE Milberg Phillips Grossman LLP