NEW YORK, April 20, 2017 /PRNewswire/ -- Scott+Scott, Attorneys at Law, LLP ("Scott+Scott"), a national investor rights law firm, reminds investors that June 13, 2017 is the last day to file lead plaintiff papers in the securities lawsuit against Lion Biotechnologies, Inc. ("Lion" or the "Company") (NASDAQ: LBIO). The class action is on behalf of a class consisting of all persons who purchased Lion common stock between November 14, 2013 and April 10, 2017, both dates inclusive (the "Class Period"). Lion investors are encouraged to contact attorney Joseph Pettigrew toll free at 844-818-6982 for more information.
Lion focuses on developing and commercializing cancer immunotherapy products to harness the power of a patient's immune system to eradicate cancer cells. Lion shares are traded on the NASDAQ stock exchange under the ticker symbol "LBIO."
The complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Lion Biotechnologies, through its former CEO Manish Singh, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion Biotechnologies to potential investors that purported to be independent from the company when, in fact, they were paid promotions; (2) former CEO Singh engaged a stock promotion firm to pay writers to publish articles about Lion Biotechnologies on investment websites as well as to coordinate the distribution of articles to thousands of electronic mailboxes; (3) former CEO Singh actively participated in the promotional work for Lion Biotechnologies and understood that the promotion firm was using writers who would not disclose that Lion Biotechnologies was indirectly compensating them for their publications; and (4) as a result, defendants' public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
What You Can Do
If you purchased Lion shares, you may have legal claims against the Company. If you want to discuss filing lead plaintiff papers, or have questions about your legal rights, please contact attorney Joseph Pettigrew at (844) 818-6982, or at [email protected].
About Scott+Scott, Attorneys at Law, LLP
Scott+Scott has significant experience prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm has offices in New York, London, Connecticut, California, and Ohio. Please visit www.scott-scott.com for more information about the firm.
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