The Shareholders Foundation announces that a deadline is coming up on February 14, 2017in the lawsuit filed for certain investors in NASDAQ:ABEO shares over alleged securities laws violations by Abeona Therapeutics Inc.
Investors who purchased shares of Abeona Therapeutics Inc (NASDAQ:ABEO)have certain options and there are strict and short deadlines running. Deadline: February 14, 2017. NASDAQ:ABEO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges on behalf of purchasers of Abeona Therapeutics Inc (NASDAQ:ABEO), that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that the science behind Abeona’s proposed gene therapy treatment for Sanfilippo syndrome is unviable, that Steven H. Rouhandeh, Abeona Therapeutics, Inc’s Executive Chairman and Principal Executive Officer, previously worked in a high ranking position for a biotech promoter who was convicted of securities fraud and involved in manipulating biotech stocks, and that as a result, Defendants’ statements about Abeona Therapeutics, Inc’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On December 12, 2016, analyst firm Mako Research published a report on Abeona Therapeutics Inc asserting, among other things, that Abeona Therapeutics Inc’s science underpinning its gene therapy approach is unviable. The report also alleged that Steven H. Rouhandeh, Abeona Therapeutics’ Executive Chairman and Principal Executive Officer, was a former managing director at D. Blech & Co. brokerage firm, which was the subject of a SEC investigation in the 1990s, and a securities class action that reached $15 million settlement for investors, based on allegations that D. Blech & Co artificially manipulated the price of various biotech stocks and maintained the market price of the biotech stocks to keep its company’s interest in the stocks afloat. Shares of Abeona Therapeutics Inc (NASDAQ:ABEO) declined on December 13, 2016, to as low as $4.2 per share.
On February 10, 2017, Abeona Therapeutics Inc (NASDAQ:ABEO) shares closed at $5.10 per share.
Those who purchased NASDAQ:ABEO 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