San Diego, CA -- (SBWIRE) -- 08/28/2013 -- An investigation on behalf of current long-term stockholders of shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) was announced concerning whether certain ImmunoCellular Therapeutics officers and directors possibly breached their fiduciary duties in connection with certain statements.

Investors who are current long-term stockholders of shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain ImmunoCellular Therapeutics officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders’ approval for an amendment of the Company’s 2006 Equity Incentive Plan.

In the Proxy Statement filed by ImmunoCellular Therapeutics with the Securities and Exchange Commission the Board of Directors recommends that ImmunoCellular’s shareholders vote to approve an amendment to the Company’s 2006 Equity Incentive Plan to increase the number of shares available for issuance thereunder from 8,000,000 to 12,000,000

According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC).

ImmunoCellular Therapeutics Ltd reported that its annual Net loss increased from $5.72 million in 2011 to $14.50 million in 2012.

Shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) grew to $3.57 p[er share on August 6, 2013.

On August 27, 2013, NASDAQ:IMUC shares closed at $2.86 per share.

Those who purchased shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Jacob Rosenfeld
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com