Inovio Pharmaceuticals, Inc. Securities Litigation
On or around 11/05/2020 (Date of last review)
Filing Date: March 12, 2020
According to the Complaint, Inovio Pharmaceuticals, Inc. purports to be a “biotechnology company focused on rapidly bringing to market precisely designed DNA medicines to treat, cure and/or protect people from . . . infectious diseases.”
The Complaint alleges that during the Class Period, Inovio made misleading statements about the company’s development of a purported vaccine for the novel coronavirus, artificially inflating the company’s share price and resulting in significant investor losses. Specifically, the Complaint alleges that Defendants capitalized on widespread COVID-19 fears by falsely claiming that Inovio had developed a vaccine for COVID-19. Plaintiffs allege that Inovio’s stock price rose significantly in response to this disclosure, but plummeted when another company exposed Inovio’s misstatements and called for an SEC investigation into the claims.
On June 18, 2020, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on August 3. On September 21, Lead Plaintiff filed an amended consolidated Complaint.
Company & Securities Information
Defendant: Inovio Pharmaceuticals, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: INO
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.
First Identified Complaint
Patrick McDermid, et al. v. Inovio Pharmaceuticals, Inc., et al.
COURT: E.D. Pennsylvania
DOCKET #: 20-CV-01402
JUDGE: Hon. Gerald J. Pappert
DATE FILED: 03/12/2020
CLASS PERIOD START: 02/14/2020
CLASS PERIOD END: 03/09/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Berger & Montague PC (Philadelphia)
Block & Leviton LLP (Boston)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violation of the Federal Securities Laws
U.S. District Court Civil Docket
Manuel S. Williams, et al. v. Inovio Pharmaceuticals, Inc., et al.