LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that a class action lawsuit has been filed on behalf of investors who purchased PixarBio Corporation (“PixarBio” or the “Company”) (Other OTC: PXRB) securities between October 31, 2016 and January 20, 2017, inclusive (the “Class Period”). PixarBio investors have until March 27, 2017 to file a lead plaintiff motion.
Investors suffering losses on their PixarBio 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.
PixarBio is a specialty pharmaceutical/biotechnology company that focuses on the pre-clinical and clinical development of neurological drug delivery systems for post-operative pain.
On January 3, 2017, PixarBio's Chief Executive Officer, Frank Reynolds, disclosed that the Company had plans to acquire InVivo Therapeutics Holdings Corp. ("InVivo"). In response, InVivo stated that it had never been involved in any negotiations regarding a deal and rejected the offer.
Then on January 23, 2017, citing concerns about possible "manipulative or deceptive activities," the U.S. Securities and Exchange Commission froze trading of PixarBio shares. According to the SEC, "the market for the security appears to reflect manipulative or deceptive activities.”
If you purchased shares of PixarBio during the Class Period you may move the Court no later than March 27, 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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