NEW YORK–(BUSINESS WIRE)–$INO #classaction–The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed in the U.S. District Court for the Eastern District of Pennsylvania on behalf of those who acquired Inovio Pharmaceuticals, Inc. (“Inovio” or the “Company”) (NASDAQ: INO) securities during the period from February 14, 2020 through March 9, 2020. Investors have until May 12, 2020 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
The lawsuit alleges that the Company made misleading statements about Inovio’s development of a purported vaccine for the novel coronavirus.
On March 9, 2020, Citron Research published a report calling for an SEC investigation into the Company’s “ludicrous and dangerous claim that they designed a [COVID-19] vaccine in 3 hours.” On this news, the price of Inovio’s shares fell $8.89, or 47.5%, to close at $9.83 per share on March 9, 2020. The share price fell an additional $4.13, or 42%, to close at $5.70 per share on March 10, 2020.
If you acquired Inovio securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at [email protected], or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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