Case Page

 

Case Status:    ONGOING    
On or around 11/15/2017 (Ongoing date of last review)

Filing Date: April 14, 2017

According to the law firm press release, the lawsuit alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that (1) Lion Biotechnologies, through its former CEO, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion Biotechnologies to potential investors that purported to be independent from the company when, in fact, they were paid promotions; (2) the former CEO engaged a notorious stock promotion firm to pay writers to publish articles about Lion Biotechnologies on investment websites as well as to coordinate the distribution of articles to thousands of electronic mailboxes; (3) the former CEO actively participated in the promotional work for Lion Biotechnologies and understood that the promotion firm was using writers who would not disclose that Lion Biotechnologies was indirectly compensating them for their publications; and (4) as a result, defendants’ public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

An amended complaint was filed on September 8, 2017.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: LBIO
Company Market: NASDAQ
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.
COURT: N.D. California
DOCKET #: 17-CV-02086
JUDGE: Hon. Susan Illston
DATE FILED: 04/14/2017
CLASS PERIOD START: 11/14/2013
CLASS PERIOD END: 04/10/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
    355 South Grand Ave, Suite 2450, The Rosen Law Firm, P.A. (New Los Angeles), CA 90071
    (213) 785-2610 (213) 226-4684 ·
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 17-CV-02086
JUDGE: Hon. Susan Illston
DATE FILED: 09/08/2017
CLASS PERIOD START: 09/27/2013
CLASS PERIOD END: 04/10/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Kessler Topaz Meltzer & Check LLP (Pennsylvania)
    280 King of Prussia Road, Kessler Topaz Meltzer & Check LLP (Pennsylvania), PA 19087
    610.667.7706 610.667.7706 · info@ktmc.com
No Document Title Filing Date