NEW YORK, Jan. 30, 2014 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Cleveland BioLabs, Inc. ("CBLI" or the "Company") (NasdaqGS: CBLI). Such investors are advised to contact Robert S. Willoughby at email@example.com or 1-888-476-6529, ext. 237.
The investigation concerns whether CBLI and certain of its officers and/or directors have violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934.
On January 23, 2014, the Company issued a Press Release announcing that the Biomedical Advanced Research Development Authority "terminated negotiations related to the company's proposal for further development of Entolimod as a medical radiation countermeasure."
On this news, shares of CBLI fell $0.38 per share to $0.75, or more than 33.62%, on January 23, 2014.
The Pomerantz Firm, with offices in New York, Chicago, San Diego and Florida, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 70 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP