BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming June 30, 2017 deadline to file a lead plaintiff motion in the class action lawsuit filed on behalf of a class of investors who purchased or otherwise acquired 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 in this putative class action lawsuit.
According to the complaint filed in this class action, starting in 2011, ImmunoCellular hired Lidingo Holdings, LLC to “pump up” 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 ImmunoCellular securities, you may move the Court no later than June 30, 2017 to request appointment as lead plaintiff in the putative class action lawsuit. 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 action lawsuit. 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 this lawsuit, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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