NEW YORK, Jan. 05, 2017 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of: (1) PlasmaTech Biopharmaceuticals, Inc. securities from March 31, 2015 through June 19, 2015, both dates inclusive (the “PlasmaTech Class Period”); and/or (2) Abeona Therapeutics Inc. securities (NASDAQ:ABEO) from June 22, 2015 through December 9, 2016, both dates inclusive (the “Abeona Class Period” and together with the PlasmaTech Class Period, the “Class Period”). The lawsuit seeks to recover damages for Abeona investors under the federal securities laws.
To join the Abeona class action, go to http://www.rosenlegal.com/cases-1009.html or call Phillip Kim, Esq. or Kevin Chan, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or kchan@rosenlegal.com for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER AND DO NOTHING AT THIS POINT. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) the science behind Abeona’s proposed gene therapy treatment for Sanfilippo syndrome is unviable; (2) Steven H. Rouhandeh, Abeona’s Executive Chairman and Principal Executive Officer, previously worked in a high ranking position for a biotech promoter who was convicted of securities fraud and involved in manipulating biotech stocks; and (3) as a result, Defendants’ statements about Abeona’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. On December 12, 2016, analyst firm Mako Research published a report on Abeona asserting, among other things, that Abeona’s science underpinning its gene therapy approach is unviable and Steven H. Rouhandeh previously worked in a position of authority at D. Blech & Co.—a firm named after now-convicted felon David Blech. On this news, shares of Abeona fell $0.70 per share or over 13% from its previous closing price to close at $4.45 per share on December 12, 2016, damaging investors.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than February 14, 2017. If you wish to join the litigation, go to http://www.rosenlegal.com/cases-1009.html or to discuss your rights or interests regarding this class action, please contact Phillip Kim or Kevin Chan of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or kchan@rosenlegal.com.
Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm.
Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.