Case Background:
On March 12, 2020, the initial complaint in this securities class action was filed against Inovio Pharmaceuticals, Inc. (“Inovio” or the “Company”) and certain of Inovio’s directors and officers, asserting violations of Sections 10(b) and 20(a) of the Securities Exchange Act. This is a federal securities fraud class action brought on behalf of all persons or entities who purchased or acquired Inovio common stock between February 14, 2020 and August 10, 2020, (the “Class Period”) both dates inclusive.
The complaint alleges that during the Class Period, Inovio made misleading statements about the Company’s development of a purported vaccine for the novel coronavirus (“COVID -19”). Specifically, the complaint alleges that Defendants capitalized on widespread COVID-19 fears by falsely claiming that Inovio had developed a vaccine for COVID-19. The complaint alleges that Inovio’s stock price rose significantly in response to this disclosure but plummeted when another company exposed Inovio’s misstatements and called for an investigation by the U.S. Securities and Exchange Commission into the claims.
Current Status of Case:
On September 21, 2020, Lead Plaintiff filed an amended complaint (the “Complaint”). On February 16, 2021, the Court issued an Order granting in part and denying in part Defendants’ Motion to Dismiss the Complaint. On February 1, 2023, the Court issued an Order approving the settlement of this action. This action has concluded.
The deadline to file a claim is December 19, 2022. Please note that Kessler Topaz did not file a claim on your behalf. You may find additional information regarding the terms of the settlement and claim filing process at www.InovioSecuritiesLitigation.com or by calling Gilardi & Co. at 1-866-809-3338.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com.