BOSTON, Jan. 25, 2017 /PRNewswire/ -- Block & Leviton LLP (www.blockesq.com), a Boston based securities litigation firm representing investors nationwide, is investigating whether PixarBio Corporation ("PixarBio" or the "Company") (OTMTK: PXRB) and certain of its officers and directors violated federal securities laws following the news that the SEC has halted trading of the company's shares, citing possible "manipulative or deceptive activities."
On January 3, 2017, PixarBio's CEO announced a purported attempt by the Company to acquire InVivo Therapeutics Holdings Corp. ("InVivo") in a $100 million takeover bid. InVivo refuted PixarBio's purported offer as "not credible."
On January 23, 2017, the U.S. Securities and Exchange Commission halted trading in the securities of PixarBio, citing concerns about possible "manipulative or deceptive activities" in the market for the Company's stock. The SEC stated, in part, that "because the market for the security appears to reflect manipulative or deceptive activities and because of questions regarding the accuracy of assertions by PixarBio in press releases and its Form S-1 concerning, among other things: (1) the company's business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the company's current and prospective development efforts."
PixarBio stock has fallen more than 30% since January 3, causing tens of millions in losses to investors.
If you recently purchased or otherwise acquired PixarBio securities and have questions about your legal rights or possess information relevant to this investigation, please contact attorney Bradley Vettraino at (617) 398-5600, by email at email@example.com, or by visiting www.blockesq.com/pixarbio. Confidentiality to whistleblowers or others with information relevant to the lawsuit is assured.
Block & Leviton LLP is a Boston-based law firm representing investors nationwide. The firm's lawyers have collectively been prosecuting securities cases on behalf of individual and institutional investors for over 50 years, and have recovered billions of dollars on their behalf. Block & Leviton's investigations into corporate wrongdoing were recently covered by the New York Times.
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Block & Leviton LLP
Bradley J. Vettraino
155 Federal Street, Suite 400
Boston, MA 02110
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SOURCE Block & Leviton LLP