openPR Logo
Press release

Lawsuit filed for Investors in shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE)

06-04-2020 03:11 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares.

A lawsuit was filed on behalf of investors in Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares.

The Shareholders Foundation announced that an investor, who purchased shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE), filed a lawsuit over alleged Securities Laws violations by Sorrento Therapeutics, Inc.

Investors who purchased shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) have certain options and for certain investors are short and strict deadlines running. Deadline: July 27, 2020. NASDAQ: SRNE investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

San Diego, CA based Sorrento Therapeutics, Inc., a clinical stage biopharma company, develops therapies for cancer, autoimmune, inflammatory, and neurodegenerative diseases.

On May 15, 2020, Sorrento Therapeutics, Inc. (NASDAQ: SRNE) announced that it had discovered an antibody that had “demonstrated 100% inhibition of SARS-CoV-2 virus infection.” On that same day, Henry Ji, founder and Chief Executive Officer of Sorrento referred to Sorrento’s breakthrough as a “cure.”

Shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) rose on May 18, 2020 to as high as $10.00 per share.

On May 20, 2020, a report was published doubting the validity of Sorrento’s claims and calling them “sensational,” “nonsense” and “too good to be true.”

Finally, on May 22, 2020, an article was published stating that in a May 21, 2020 interview with Ji and Brunswick, Ji “insist[ed] that they did not say it was a cure.”

Shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) declined on June 3, 2020 as low as $3.84 per share.

The plaintiff claims that between May 15, 2020 and May 22, 2020, Sorrento Therapeutics, Inc. failed to disclose that the Company’s initial finding of “100% inhibition” in an in vitro virus infection will not necessarily translate to success or safety in vivo, or in person, that the Company’s finding was not a “cure” for COVID-19; and (ii) as a result of the foregoing, the lawsuit alleges that Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis in violation of section 10(b) of the Securities Exchange Act of 1934.

Those who purchased shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) have certain options and should contact the Shareholders Foundation.

Media Contact:
Christopher Clausen
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.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit filed for Investors in shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) here

News-ID: 2066548 • Views: 1278

More Releases from Shareholders Foundation

Investigation announced for Investors in NYSE: ACB shares over potential Violati …
An investigation was announced over potential securities laws violations by Aurora Cannabis Inc. in connection with certain financial statements. Investors who purchased shares of Aurora Cannabis Inc. (NYSE: ACB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Aurora Cannabis Inc. (NYSE: ACB) concerning whether a
Lawsuit filed for Investors in shares of Golar LNG Limited (NASDAQ: GLNG)
An investor, who purchased shares of Golar LNG Limited (NASDAQ: GLNG), filed a lawsuit over alleged violations of Federal Securities Laws by Golar LNG Limited. Investors who purchased shares of Golar LNG Limited (NASDAQ: GLNG) have certain options and for certain investors are short and strict deadlines running. Deadline: November 23, 2020. NASDAQ: GLNG investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. On September 24, 2020,
Investigation announced for Investors in shares of Legend Biotech Corporation (N …
An investigation was announced concerning potential securities laws violations by Legend Biotech Corporation in connection with certain financial statements. Investors who purchased shares of Legend Biotech Corporation (NASDAQ: LEGN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm focuses on whether a series of statements by Legend Biotech Corporation regarding its business, its prospects and its operations were
Deadline on October 19, 2020 coming up in Lawsuit for Investors in shares of Gen …
A deadline is coming up on October 19, 2020 in the lawsuit filed for certain investors of Genius Brands International, Inc. (NASDAQ: GNUS) over alleged securities laws violations by Genius Brands International, Inc. (NASDAQ: GNUS). Investors who purchased shares of Genius Brands International, Inc. (NASDAQ: GNUS) have certain options and there are strict and short deadlines running. Deadline: October 19, 2020. NASDAQ: GNUS stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com

All 5 Releases


More Releases for Sorrento

Investigation announced for Long-Term Investors in shares of Sorrento Therapeuti …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of Sorrento Therapeutics, Inc.. Investors who are current long term investors in Sorrento Therapeutics, Inc. (NASDAQ: SRNE) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: SRNE stocks follows a lawsuit filed against Sorrento
Deadline in Lawsuit coming up on July 27th for Investors in Sorrento Therapeutic …
The Shareholders Foundation announced that a deadline is coming up on July 27, 2020 in the lawsuit filed for certain investors of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) over alleged securities laws violations by Sorrento Therapeutics, Inc. Investors who purchased shares of Sorrento Therapeutics, Inc. (NASDAQ: SRNE) have certain options and there are strict and short deadlines running. Deadline: July 27, 2020. NASDAQ: SRNE stockholders should contact the Shareholders Foundation at
Bispecific Antibody Therapeutic Market May Set New Growth Story in Near Future 2 …
Business Industry Reports Research has recently announced a report on Global Bispecific Antibody Therapeutic Market based on the healthcare Industry. The Bispecific Antibody Therapeutic Market report emphasizes various key aspects, which include growth drivers, restraints, opportunities and recent market trends for the forecast period 2020-2024. Overview of Global Bispecific Antibody Therapeutic Market: Bispecific antibodies in cancer treatment act as a bridge between cancer cells and cytotoxic T lymphocytes. They bind CD3 antigens
Natural Killer Cells Market Driver, Trends, Applications & Business Strategy By …
Studies have also been carried to express the vitality of natural killer cells’ response against infected cells by various intracellular bacteria such as Listeria, Salmonella and Legionella in humans. Recent advancements have proven the exclusive role of killer cells in the innate immune response to microbial pathogens. Killer cell also work through another approach of direct recognition of pathogen derived structures on the surface of the infected cell. The immediate
Natural Killer Cells Market Insights With Key Players NantKwest, NKT Therapeutic …
Natural killer cells are a form of granular lymphocytes of varying sizes that play an important role in innate immunity in the human body. They typically constitute of around 10% of total blood lymphocytes as compared to around 70% and 20% of T cells and B cells, respectively. Natural killer cells are cytotoxic in nature and are able to kill their targets cells by two different mechanisms: as antibody dependent
K Cells Market Size, Status and Forecast to 2025| Takeda Pharmaceutical| Sorrent …
HTF MI released a new market study on Global K Cells Market with 100+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. At present, the market is developing its presence. The Research report presents a complete assessment of the Market and contains a future trend, current growth factors, attentive opinions, facts, and industry validated market data. The research study provides estimates