NEW YORK, May 15, 2015 /PRNewswire/ -- The following statement is being issued by Levi & Korsinsky, LLP:
To: All persons or entities who purchased or otherwise acquired securities of Cellular Biomedicine Group Inc. (NASDAQ :CBMG ) between June 18, 2014 and April 7, 2015.
You are hereby notified that a securities class action lawsuit has been commenced in the United States District Court for the Northern District of California. If you purchased or otherwise acquired Cellular Biomedicine Group Inc. ("Cellular Biomedicine") securities between June 18, 2014 and April 7, 2015, your rights may be affected by this action. To get more information go to:
or contact Joseph E. Levi, Esq. either via email at email@example.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972. There is no cost or obligation to you.
The complaint alleges that, among other allegations, the Company used paid stock promoters to achieve its $500 million valuation, but failed to disclose the use of promoters in its regulatory filings.
On April 7, 2015, an article featured on Seeking Alpha alleged that the Company was engaged in a fraudulent scheme to mislead investors.
If you suffered a loss in Cellular Biomedicine you have until June 22, 2015 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, New Jersey, Connecticut and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
SOURCE Levi & Korsinsky, LLP