NEW YORK--(BUSINESS WIRE)--The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of ImmunoCellular Therapeutics, Ltd. (NYSEMKT: IMUC) who purchased shares between May 1, 2012 and December 11, 2013. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the complaint alleges that throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that (1) ImmunoCellular retained Lidingo Holdings, LLC to publish promotional articles designed to unlawfully promote the Company; (2) as a result of this scheme, the market was led to believe that ImmunoCellular's clinical studies for its product candidate ICT-107 was going well and the Company's share price was artificially inflated.
On April 10, 2017, the Securities and Exchange Commission announced enforcement actions against numerous individuals and entities, including ImmunoCellular, that had engaged in stock promotion schemes.
Shareholders have until June 30, 2017 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
If you suffered a loss during the class period and wish to obtain additional information, please contact Joseph Klein, Esq. by telephone at 212-616-4899 or visit http://www.kleinstocklaw.com/pslra-sa/immunocellular-therapeutics-ltd?wire=2.
Joseph Klein, Esq. is an experienced attorney and has also practiced as a Certified Public Accountant. Mr. Klein represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.