NEW YORK, Oct. 20, 2020 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of persons and entities that purchased or otherwise acquired Precigen, Inc. ("Precigen" or the "Company") f/k/a Intrexon Corporation ("Intrexon") (NASDAQ: PGEN, XON) securities between May 10, 2017 and September 25, 2020, inclusive (the "Class Period").
All investors who purchased shares of Precigen, Inc. and incurred losses are urged to contact the firm immediately at [email protected] or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Precigen, Inc., you may, no later than December 4, 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Precigen, Inc.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose to investors that:
- Intrexon was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas;
- yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields;
- due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock;
- the Company's financial statements for the quarter ended March 31, 2018 were false and could not be relied upon;
- Intrexon had material weaknesses in its internal controls over financial reporting;
- the Company was under investigation by the SEC since October 2018; and
- that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at [email protected], or visit our website at www.whafh.com.
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: [email protected], [email protected] or [email protected]
Tel: (800) 575-0735 or (212) 545-4774
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP