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Investigation announced for Long-Term Investors in BioLineRx Ltd. (NASDAQ: BLRX) over potential Wrongdoing

04-20-2023 04:10 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

Investigation announced for Long-Term Investors in BioLineRx

An investigation was announced for current long-term investors in shares of BioLineRx Ltd. (NASDAQ: BLRX) concerning potential breaches of fiduciary duties by certain directors of BioLineRx Ltd.

Investors who are current long term investors in BioLineRx Ltd. (NASDAQ: BLRX) 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: BLRX stocks follows a lawsuit filed against BioLineRx Ltd. over alleged securities laws violations. The investigation on behalf of current long term investors in NASDAQ: BLRX stocks, concerns whether certain BioLineRx Ltd. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the defendants made false and/or misleading statements and/or failed to disclose, among other things, that the Company was not well financed to develop Motixafortide while at the same time advancing other pipeline programs, that BioLine would require a loan from Kreos Capital VII Aggregator SCSP in an aggregate principal amount of up to $40 million and then also would require a $15M securities offering to facilitate the commercial launch of Motixafortide, and that as a result of the foregoing, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of BioLineRx Ltd. (NASDAQ: BLRX) have certain options and should contact the Shareholders Foundation.

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 lawsuits, 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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