LOS ANGELES, May 27, 2020 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises investors that a class action lawsuit has been filed on behalf of Sorrento Therapeutics, Inc. (“Sorrento” or the “Company”) investors that acquired Sorrento securities (NASDAQ: SRNE) between May 15, 2020 and May 22, 2020. Eligible Sorrento investors have until July 27, 2020 to request that the Court appoint you as lead plaintiff. The complaint alleges that the Company misled investors regarding the viability of its COVID-19 vaccine.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their eligibility for appointment as a Lead Plaintiff. Click here to join the case via www.portnoylaw.com. Lead Plaintiffs are appointed by the court to act as a fiduciary on behalf of other injured investors. Lead plaintiffs do not bear any direct cost or expense of the case, and are eligible to receive a monetary award for participating in the case.
The complaint filed in this lawsuit alleges that failed to disclose that: (i) the Company’s initial finding of “100% inhibition” in an in vitro virus infection will not necessarily translate to to success or safety in vivo, or in person; (ii) the Company’s finding was not a “cure” for COVID-19; and (ii) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Please visit our website to review more information and submit your transaction information. If you suffered a loss you have until July 27, 2020 to request that the Court appoint you as lead plaintiff.
The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com
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