BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming March 27, 2017 deadline to file a lead plaintiff motion in the class action filed on behalf of a class of investors who purchased or otherwise acquired PixarBio Corporation (“PixarBio” or the “Company”) (Other OTC: PXRB) securities between October 31, 2016 and January 20, 2017, inclusive (the “Class Period”) or pursuant to the Company's private placement that closed on October 30, 2016. PixarBio investors have until March 27, 2017 to file a lead plaintiff motion.
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 PixarBio shares, you may move the Court no later than March 27, 2017 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 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 http://www.howardsmithlaw.com.
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