LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the July 5, 2016 deadline to file a lead plaintiff motion in the class action filed on behalf of a class (the “Class”) of investors who purchased Intrexon Corporation (“Intrexon” or the “Company”) (NYSE: XON) securities between May 12, 2015 and April 20, 2016, inclusive (the “Class Period”). Intrexon investors have until July 5, 2016 to file a lead plaintiff motion.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Intrexon was overstating its revenue; and (ii) as a result, Defendants' statements about Intrexon's business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On April 21, 2016, Spotlight Research released a report about Intrexon alleging that the Company’s revenues are overstated by 50% through transactions with related parties and/or the use of “round trip” transactions. On this news, shares of Intrexon fell over 26% on April 21, 2016, closing at about $27 per share on April 21, 2016.
Then on May 11, 2016, Intrexon shares fell by as much as $2.97 per share, or nearly 11%, on news the Company’s first quarter revenues and earnings fell below estimates.
If you purchased Intrexon shares, you may move the Court no later than July 5, 2016 to request appointment as lead plaintiff. 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 email@example.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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