Federman & Sherwood Announces the Filing of a Securities Class Action Lawsuit against Intrexon Corporation
Oklahoma City, OK (May 4, 2016) – On May 3, 2016, a securities class action lawsuit was filed in the United States District Court for the Northern District of California against Intrexon Corporation (NYSE: XON). The complaint alleges violations of federal securities laws, Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5, including allegations of issuing a series of material or false misrepresentations to the market which had the effect of artificially inflating the market price during the Class Period, which is May 12, 2015 through April 20, 2016. More specifically, this litigation was filed because on April 21, 2016, Spotlight Research reported about Intrexon that: (1) Intrexon's technology is being questioned by the World Health Organization, the Centers for Disease Control and Prevention and the National Institutes of Health; (2) Intrexon exaggerated its revenues by 50% through dealings with related parties; (3) Intrexon's technology program is just overhyped failed products; and (4) Intrexon is the Theranos of the public markets. Following this news, Intrexon stock dropped to close at $27.10 per share on April 21, 2016.
Plaintiff seeks to recover damages on behalf of all Intrexon Corporation shareholders who purchased common stock during the Class Period and are therefore a member of the Class as described above. You may move the Court no later than Tuesday, July 5, 2016 to serve as a lead plaintiff for the entire Class. However, in order to do so, you must meet certain legal requirements pursuant to the Private Securities Litigation Reform Act of 1995.
To join this class action, click here to obtain an investor certification. Once complete, please email this form to email@example.com, fax to us at (405) 239-2112 or send by regular mail to Federman & Sherwood, 10205 North Pennsylvania Avenue, Oklahoma City, OK 73120, ATTN: Robin.
Posted on Wed, May 4, 2016
by Robin Hester filed under