Securities Class Action Filed Against Cellular Biomedicine Group Inc.
Violations of federal securities laws as a result of a series of materially false statements. The Complaint alleges that the Company made false and/or misleading statements and/or failed to disclose that: (1) the Company used paid stock promoters to achieve its unsustainable $500 million valuation, but failed to disclose such use in its regulatory filings; (2) the Company’s “Car-T” technology experienced patient deaths and lacked any meaningful market value; and (3) as a result of the above, the Company’s financial statements were materially false and misleading at all relevant times. It is alleged that when the true details entered the market, investors suffered damages. Filed in N.D. Cal.
Lead Plaintiff Deadline: The deadline to file for lead plaintiff in this action is 6/22/2015.
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