BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that it is investigating potential claims on behalf of investors of Cellular Biomedicine Group, Inc. (“Cellular Biomedicine” or the “Company”) (NASDAQ: CBMG). Investors that have purchased shares of Cellular Biomedicine, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, 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 email@example.com, or visit our website at http://www.howardsmithlaw.com.
The investigation concerns the Company’s and its executives' alleged violation of the securities laws, by virtue of Cellular Biomedicine’s failure to disclose to investors that the Company had used paid stock promoters and that the Company’s “Car-T” technology had experienced patient deaths and lacked any meaningful value.
On April 7, 2015 a seekingalpha.com report revealed that the Company engaged undisclosed stock promoters, had large insider sales, that the Company founders faced dishonesty allegations and used the services of an individual serving 11 years in prison for fraud. In addition, the report also revealed that 50% of the Company’s quarterly SEC filings raised accounting and financial integrity questions. Following publication of the seekingalpha.com report the value of CBMG shares declined significantly, falling $7.00 per share, or 22%, to close on April 7, 2015 at $25.22.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.