PixarBio investors launch lawsuit
Lawsuit for Investors in shares of PixarBio announced by Shareholders Foundation. The Shareholders Foundation lawsuit was filed on behalf of certain purchasers of shares of PixarBio over alleged Securities Laws Violations by PixarBio.
Investors, who purchased shares of PixarBio pursuant and/or traceable to PixarBio’s private placement that closed on October 30, 2016, and/or publicly traded on the open market from October 31, 2016, through January 20, 2017, have certain options and for certain investors there are short and strict deadlines running.
The plaintiff alleges that the defendants made allegedly false and/or misleading statements and/or failed to disclose that the market for PixarBio’s securities exhibited manipulative or deceptive activities; that PixarBio’s assertions in press releases, third-party promotional materials, and PixarBio’s Form S-1 concerning, among other things, PixarBio’s business combinations and current shareholders; the identity and qualifications of key shareholders and employees and PixarBio’s current and prospective development efforts lacked veracity; and that as a result, defendants’ public statements were materially false and misleading at all relevant times.
On January 23, 2017, the Securities and Exchange Commission (SEC) announced the temporary suspension of trading in the securities of PixarBio “because the market for the security appears to reflect manipulative or deceptive activities and because of questions regarding the accuracy of assertions by PixarBio in press releases and its Form S-1 concerning, among other things: (1) the company’s business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the company’s current and prospective development efforts.”
Those who purchased PixarBio shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.