CHESTNUT HILL, MA / ACCESSWIRE / April 10, 2020 / Sokolove Law announces an investigation into a securities class action lawsuit filed against Inovio Pharmaceuticals (NASDAQ:INO) on behalf of shareholders. INO investors that purchased 20,000 shares or more between February 14 to March 9, 2020 and are interested in learning more about the class action lawsuit should call 800-572-0168 to explore their legal rights. The May 12th deadline is approaching, time is extremely limited- shareholders are encouraged to call without delay.
For more information visit: INOFraud.com
The lawsuit alleges that between February 14, 2020 and March 9, 2020 the defendants capitalized on extreme COVID-19 panic by falsely claiming that Inovio Pharmaceuticals, Inc. had developed a vaccine for COVID-19. The lawsuit also alleges that Inovio Pharmaceuticals CEO J. Joseph Kim appeared on Fox Business News and stated Inovio had developed a COVID-19 vaccine. After J. Joseph Kim's statement, the market responded favorably and Inovio's stock price quadrupled from $4.28 a share on February 28, 2020, and continued to rise in subsequent weeks, reaching an intra-day high of $19.36 on March 9, 2020. It is alleged that Inovio had not developed a COVID-19 vaccine. The lawsuit states that on March 9, 2020, before trading commenced, Citron Research exposed the misstatements, calling for an SEC investigation into the matter. In response, Inovio's stock price fell dramatically from its March 9 opening price of $18.72 per share to close to $9.83. The following day, March 10, 2020, Inovio's stock price fell from its $9.30 per share opening price to close at $5.70 per share.
If you are an INO investor who purchased 20,000 shares or more between February 14, 2020 to March 9, 2020, call our experienced case managers now at 800-572-0168 to discuss your legal rights in this securities fraud class action lawsuit.
The class has not been certified yet. You are not represented by an attorney until certification occurs. If you do not take action you can remain an absent class member. There is no required minimum number of shares to be a class member.
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