NEW YORK, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Precigen, Inc. (NASDAQ: PGEN) f/k/a Intrexon Corporation on behalf of long-term stockholders. Our investigation concerns whether the board of directors of Precigen have breached their fiduciary duties to the company.
On September 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced a $2.6 million civil penalty against the Company related to its statements about the “purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.”
In its cease-and-desist order, the SEC noted that “Intrexon was primarily using significantly more expensive pure methane for the relevant laboratory experiments but was indicating that the results had been achieved using natural gas.” Though the Company had pitched the program to business partners throughout 2017 and 2018, the SEC pointed out that a “number of the potential partners performed due diligence on the MBC program including reviewing lab results and plans for commercialization[, and] Intrexon has not yet found a partner for the MBC program.”
If you are a long-term stockholder of Precigen, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker, Melissa Fortunato, or Marion Passmore by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact Information:
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com