LOS ANGELES, May 02, 2024 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Global Cord Blood Corporation (“Global Cord” or the “Company”) (OTC: CORBF) investors that a lawsuit was filed on behalf of investors that purchased Global Cord securities between June 4, 2019 and May 3, 2022, inclusive (the “Class Period”).
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
On April 29, 2022, Global Cord announced a deal to acquire Cellenkos Inc. for over $1 billion, paid through cash and shares, leading to significant shareholder dilution. Following the announcement, the company's stock price dropped by 28.6%. Subsequently, on May 3, Blue Ocean filed a petition against the acquisition, criticizing its value and the approval process, resulting in another stock price drop of 9.1%. Further complications arose when the Grand Court of the Cayman Islands intervened in September 2022, suspending the directors of Global Cord due to alleged financial mismanagement related to the transaction. This led to a halt in trading of Global Cord’s shares and eventually, in June 2023, the company was delisted from the NYSE by the SEC.
Please visit our website to review more information and submit your transaction information.
The Portnoy Law Firm represents investors in pursuing claims 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
Attorney Advertising
