An investigation for investors in Cellular Biomedicine Group Inc (NASDAQ:CBMG) shares over potential securities laws violations was announced and (NASDAQ:CBMG stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/13/2015 -- An investigation on behalf of investors of Cellular Biomedicine Group Inc (NASDAQ:CBMG) shares over potential securities laws violations in connection certain financial statements was announced.
Investors who purchased shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Cellular Biomedicine Group Inc (NASDAQ:CBMG) concerning whether a series of statements regarding Cellular Biomedicine Group's business, its prospects and its operations were materially false and misleading at the time they were made.
Cellular Biomedicine Group Inc reported that its annual Total Revenue rose from $0.20 million in 2013 to $0.56 million in 2014. Shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) grew from $11.52 per share in late December 2014 to as high as $49.00 per share on March 24, 2015.
On April 7, 2015, a report was published on Cellular Biomedicine Group, which alleged that it has achieved an unsustainable valuation with paid stock promotion, that its "CAR-T" technology has experienced patient deaths and is worthless, that its founders face multiple allegations of dishonesty and are responsible for an alleged illegal offshore stem cell clinic, and that it has multiple accounting and financial integrity issues.
On April 8, 2015, Cellular Biomedicine Group Inc (NASDAQ:CBMG) responded to the statements and allegations. Cellular Biomedicine Group Inc said that the statements and allegations are false and misleading.
Shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) declined to as low as $1.41 per share on April 8, 2015.
On April 9, 2015, NASDAQ:CBMG shares closed at $27.48 per share.
Those who purchased shares of Cellular Biomedicine Group Inc (NASDAQ:CBMG) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com