On or around 11/07/2017 (Other)
Filing Date: May 03, 2016
According to the law firm press release, the lawsuit alleges Intrexon issued false and misleading financial statements to investors. On April 21, 2016, Spotlight Research issued a report revealing that Intrexon’s revenues were overstated through transactions with related parties. The lawsuit claims that when this adverse information entered the market, the price of Intrexon stock dropped, damaging investors.
On July 25, 2016, the Court issued an Order appointing Lead Plaintiff and approving Lead Counsel. Lead Plaintiff filed an amended complaint on September 22.
On February 24, 2017, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiffs were given 30 days to file an amended complaint. Plaintiffs did not file, thus this case was dismissed with prejudice on April 26.
Company & Securities Information
Defendant: Intrexon Corporation
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: XON
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Ryan Hoffman, et al. v. Intrexon Corporation, et al.