An investor in NYSEMKT:IMUC shares filed a lawsuit over alleged violations of Federal Securities Laws by ImmunoCellular Therapeutics.
Investors who purchased shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between May 1, 2012 through December 11, 2013 the defendants developed a scheme to manipulate and artificially inflate the stock price of ImmunoCellular Therapeutics Ltd and that by virtue of this scheme, the market was conditioned to believe that ImmunoCellular’s clinical studies for ICT-107 were going well as the placement of these fraudulent media reports were often timed to coincide with ImmunoCellular’s announcements of ICT-107, so to have maximum impact upon ImmunoCellular’s share price.
The plaintiff claims that unbeknownst to the market, beginning in September 2011, ImmunoCellular Therapeutics Ltd hired Lidingo Holdings, LLC, a stock promotional firm to pump up the value of ImmunoCellular Therapeutics Ltd stock and that this endeavor included a campaign of planting phony analyst reports and news articles that fawned over ImmunoCellular Therapeutics Ltd, and that in many cases, these phony media reports were written under aliases, and failed to reveal that ImmunoCellular had complete editorial control over their work.
Then on December 11, 2013, ImmunoCellular Therapeutics Ltd announced that ICT-107, its dendritic cell-based vaccine, demonstrated a statistically significant increase in progression-free survival in patients with newly diagnosed glioblastoma multiforme in its randomized, placebo-controlled phase II trial.
Those who purchased NYSEMKT:IMUC 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