LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased ImmunoCellular Therapeutics, Ltd. (“ImmunoCellular” or the “Company”) (NYSE: IMUC) securities between May 1, 2012 and December 11, 2013, inclusive (the “Class Period”). ImmunoCellular investors have until June 30, 2017 to file a lead plaintiff motion.
Investors suffering losses on their ImmunoCellular investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to email@example.com.
According to the Complaint filed in this class action, starting in 2011, ImmunoCellular hired Lidingo Holdings, LLC to raise the value of ImmunoCellular's stock. Allegedly, Lidingo paid people to write fake media reports that undeservedly touted ImmunoCellular stock. While the articles appeared to be unbiased and genuine on the surface, in actuality the articles were paid promotions wherein ImmunoCellular had complete editorial control of the authors' work. As a result of this deception, investors were made to believe that ImmunoCellular's studies for ICT-107 were progressing positively, leading the company's stock price to reach a high of $3.88 per share on June 1, 2012. On April 10, 2017, the Securities and Exchange Commission announced enforcement actions against the Company, as well as other individuals and entities for engaging in unlawful stock promotion activities.
If you purchased shares of ImmunoCellular during the Class Period you may move the Court no later than June 30, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org, or visit our website at http://glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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