An investor in NASDAQ:SRNE shares filed a lawsuit against certain directors of Sorrento Therapeutics Inc over alleged breaches of fiduciary duties.
Investors who purchased shares of Sorrento Therapeutics Inc (NASDAQ:SRNE) and currently hold any of those NASDAQ:SRNE shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants have engaged in and announced a series of transactions that, taken together, reflect a wrongful and disturbing pattern of using their fiduciary positions to enrich and entrench themselves at the direct expense of the Company and its shareholders to whom they owe their fiduciary duties.
Sorrento Therapeutics Inc reported that its annual Total Revenue rose from $0.46 million in 2013 to $4.59 million in 2015 while its Net Loss increased from $21.91 million in 2013 to $45.81 million in 2015. Shares of Sorrento Therapeutics Inc (NASDAQ:SRNE) declined from as high as $23.51 per share to $4.50 per share in February 2016.
Those who purchased NASDAQ:SRNE shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com