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Case Status:    ONGOING    
On or around 10/12/2020 (Date of last review)

Filing Date: October 05, 2020

According to the Complaint, Precigen, Inc. (formerly known as Intrexon Corporation) purportedly operates in the synthetic biology field and creates biologically-based products. During the Class Period, the Company’s securities traded on the New York Stock Exchange under the ticker symbol “XON” until September 25, 2018, when the Company’s stock began trading on the NASDAQ market. On February 1, 2020, the Company changed its name to “Precigen, Inc.” and its stock symbol to “PGEN.”

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose to investors that: (1) the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas; (2) yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields; (3) due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock; (4) the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon; (5) the Company had material weaknesses in its internal controls over financial reporting; (6) the Company was under investigation by the SEC since October 2018; and (7) as a result of the foregoing, Defendants’ public statements were materially false and misleading at all relevant times.

COMPANY INFORMATION:

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

SECURITIES INFORMATION:

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.
COURT: N.D. California
DOCKET #: 20-CV-06936
JUDGE: Hon. Beth Labson Freeman
DATE FILED: 10/05/2020
CLASS PERIOD START: 05/10/2017
CLASS PERIOD END: 09/25/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. The Rosen Law Firm, P.A. (New Los Angeles)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available