NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Intrexon Corporation (NYSE: XON) resulting from allegations that Intrexon may have issued materially misleading business information to the investing public.
On August 9, 2018, Intrexon filed a Form 8-K with the SEC announcing that it would restate the unaudited interim consolidated financial statements for the quarter ended March 31, 2018. The restatement was the result of an incorrect application of certain aspects of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. According to Intrexon, “these errors have resulted in an overstatement of deferred revenue and accumulated deficit by approximately $67 million as of the adoption date[.]” On this news, shares of Intrexon fell $0.34 or over 2.2% to close at $15.05 on August 10, 2018.
Then, on August 13, 2018, Intrexon filed an amended and restated Form 10-Q with the SEC for the quarter ended March 31, 2018. On this news, shares of Intrexon fell an additional $0.95 or over 6% to close at $14.10 on August 13, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Intrexon investors. If you purchased shares of Intrexon please visit the firm’s website at http://www.rosenlegal.com/cases-882.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at firstname.lastname@example.org or email@example.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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