INO Stock: Berger Montague Investigates Securities Fraud Class Action Claims Against Inovio Pharmaceuticals, Inc. (NASDAQ: INO); Lead Plaintiff Deadline is May 12, 2020
PHILADELPHIA, March 13, 2020 – Berger Montague is investigating securities fraud claims against Inovio Pharmaceuticals, Inc. (“Inovio” or the “Company”) on behalf of all purchasers of Inovio common stock (NASDAQ: INO) between February 14, 2020 and March 9, 2020 (“Class Period”).
If you purchased Inovio shares, have information, would like to discuss this investigation, or have any questions concerning your rights or interests, please contact our attorneys Andrew Abramowitz, Esq. at (215) 875-3015 or Michael Dell’Angelo, Esq. at (215) 875-3080.
On February 14, 2020, Inovio, through its CEO J. Joseph Kim, began to represent that it could “rapidly construct” a vaccine to COVID-19 “in a matter of about three hours once we had the DNA sequence from the virus available because of the power of our DNA medicine platform.” On March 3, 2020, Inovio announced an accelerated timeline for developing its DNA vaccine.
Then, on March 9, 2020, financial analyst Citron Research published an announcement on Twitter that the “SEC should immediately halt [Inovio] stock and investigate the ludicrous and dangerous claim that they designed a vaccine in 3 hours. This has been a serial stock promotion for years. This will trade back to $2.”
On this news, the price of Inovio shares declined precipitously, from a high of $19.36 per share on March 9, 2020, to a close of $5.70 on March 10, 2020—a fall of 71% percent.
If you purchased Inovio common stock during the Class Period, you may seek Court appointment as lead plaintiff to represent other injured investors in a class action. The lead plaintiff appointment deadline is May 12, 2020. You do not need to be a lead plaintiff to share in any potential Class recovery.
Whistleblowers: Persons with non-public information regarding Inovio should consider their options to help Berger Montague’s investigation.
Berger Montague, with offices in Philadelphia, Minneapolis, Washington, D.C., and San Diego, has been a pioneer in securities class action litigation since its founding in 1970. Berger Montague has represented individual and institutional investors for five decades and serves as lead counsel in courts throughout the United States.