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Lawsuit filed for Investors in shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO)

03-19-2020 06:48 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Inovio Pharmaceuticals, Inc. (NASDAQ: INO) shares.

A lawsuit was filed on behalf of investors in Inovio Pharmaceuticals, Inc. (NASDAQ: INO) shares.

The Shareholders Foundation announced that an investor, who purchased shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO), filed a lawsuit over alleged violations of Federal Securities Laws by Inovio Pharmaceuticals, Inc..

Investors in shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) have certain options and for certain investors are short and strict deadlines running. Deadline: May 12, 2020. NASDAQ: INO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Plymouth Meeting, PA based Inovio Pharmaceuticals, Inc., a late-stage biotechnology company, focuses on the discovery, development, and commercialization of DNA-based immunotherapies and vaccines to prevent and treat cancers and infectious diseases.

On March 3, 2020, Inovio Pharmaceuticals, Inc. issued a press release entitled "Inovio Accelerates Timeline for COVID-19 DNA Vaccine INO-4800." The press release quoted Dr. J. Joseph Kim, Inovio's President and Chief Financial Officer, stating that Inovio was "the only company with a Phase 2 vaccine for a related coronavirus that causes Middle East Respiratory Syndrome (MERS)" and that "[u]sing our modern DNA medicines platform, we designed our DNA vaccine INO-4800 in three hours after the publication of the genetic sequence of the novel coronavirus that causes COVID-19."
Shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) jumped from $4.50 per share on March 2, 2020 to as hiw as 19.36 per share on March 9, 2020.

Then, on March 9, 2020, Citron Research stated via Twitter that the "SEC should immediately HALT this stock [i.e., Inovio] and investigate the ludicrous and dangerous claim that they designed a vaccine in 3 hours."

Shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) declined to as low as $5.50 per share on March 10, 2020.

The plaintiff claims that between February 14, 2020 and March 9, 2020, Inovio made misleading statements about the company's development of a purported vaccine for the novel coronavirus, artificially inflating the company's share price and resulting in significant investor losses.

Those who purchased shares of Inovio Pharmaceuticals, Inc. (NASDAQ: INO) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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