Kehoe Law Firm, P.C. Investigating Claims On Behalf of Investors Who Purchased, Or Otherwise Acquired, Sorrento Therapeutics Securities Between May 15, 2020 and May 22, 2020, Both Dates Inclusive, And Suffered Losses Greater Than $100K
Investors of Sorrento Therapeutics should be aware that on May 26, 2020, a class action lawsuit was filed in United States District Court, Southern District of California, on behalf of all investors who purchased, or otherwise acquired, the common stock of Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) between May 15, 2020 and May 22, 2020, both dates inclusive (the “Class Period”), seeking to recover damages caused by the Sorrento Defendants’ alleged violations of the federal securities laws and to pursue remedies under §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.
According to the class action complaint, “[d]uring the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts to investors. Specifically, Defendants mispresented and/or failed to disclose that: (i) the Company’s initial finding of ‘100% inhibition’ in an in vitro virus infection will not necessarily translate to to success or safety in vivo, or in person; (ii) the Company’s finding was not a ‘cure’ for COVID-19; and (ii) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.”
Investors who purchased, or otherwise acquired, Sorrento Therapeutics common stock during the Class Period and suffered losses greater than $100K are encouraged to contact Kehoe Law Firm, P.C., Michael Yarnoff, Esq., (215) 792-6676, Ext. 804, [email protected], [email protected], to discuss the securities investigation or potential legal claims.