UPDATE – Edelson Lechtzin LLP recalls Enochian
NEWTOWN, Pa., Sept. 22, 2022 (GLOBE NEWSWIRE) — The law firm of Edelson Lechtzin LLP is reminding investors that between February they purchased common stock of Enochian Biosciences Inc. (“Enochian” or the “Company”) (NASDAQ: ENOB) June 16, 2018 and including June 27, 2022 (the “Collection Period”) of the rapidly approaching deadline for filing a motion requesting that the U.S. District Court for the Central District of California designate them as Lead Plaintiffs.
Investors who purchased Enochian stock during the Class Period have until September 26, 2022 to select counsel and apply to be named lead plaintiff. The lead plaintiff acts as a representative for other group members in conducting the litigation. If you continue to own Enochian stock and would like to discuss your legal options, please contact Edelson Lechtzin LLP, toll-free at 1-844-696-7492 or email [email protected]
Background on the class action lawsuit against Enochian Biosciences securities
The complaint alleges that Enochian, a pre-clinical stage biotechnology company, has made false and misleading statements and material omissions through its officers regarding the company’s financial performance and future prospects. In particular, it is alleged that Enochian co-founder Gumrukcu was involved in a number of fraudulent misconduct, including not being a licensed physician and the scientific and technological basis of Enochian’s product pipeline allegedly invented by Gumrukcu was dubious at best. Thus, the defendants significantly overstated the commercial prospects for the Company’s product pipeline and threatened the integrity of the Company’s scientific findings, thereby rendering the Company’s public statements during the Class Period substantially false and misleading.
On May 25, 2022, the United States Department of Justice (“DOJ”) announced that Gumrukcu had been arrested and charged with conspiracy to murder. This news sent Enochian stock price down $2.17 per share, or…
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