IMMUNOCELLULAR ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $500,000 in Immunocellular
Therapeutics, Ltd. to Contact the Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in ImmunoCellular Therapeutics, Ltd.
(“ImmunoCellular” or the “Company”) (NYSEMKT:IMUC) of the June 30, 2017 deadline to seek the role of lead plaintiff in a federal
securities class action that has been filed against the Company.
If you invested in ImmunoCellular stock or options between May 1, 2012 and December 11, 2013 and would like to discuss
your legal rights, click here : www.faruqilaw.com/IMUC. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by
sending an e-mail to rgonnello@faruqilaw.com .
The lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those who
purchased ImmunoCellular common stock between May 1, 2012 and December 11, 2013 (the “Class Period”). The case, Arthur Kaye IRA
FCC as Custodian DTD 6-8-00 v. ImmunoCellular Therapeutics, Ltd. et al, No. 2:17-cv-03250 was filed on May 1, 2017.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading
statements and/or failing to disclose that ImmunoCellular retained Lidingo Holdings, LLC to publish promotional articles designed
to unlawfully promote the Company and inflate the price of ImmunoCellular stock. According to the lawsuit, as a result of this
scheme, investors were led to believe that the Company’s clinical studies for its lead product candidate, ICT-107 were going well
in order to inflate ImmunoCellular’s share price.
Specifically, after market close on December 11, 2013, the Company revealed that the primary endpoint for its ICT-107 Phase II
study “did not reach statistical significance” because it failed to increase overall survival in patients diagnosed with
glioblastoma multiforme. On this news, ImmunoCellular’s share price fell from $2.72 per share on December 11, 2013 to a closing
price of $1.10 on December 12, 2013—a $1.62 or a 59.56% drop.
Then, on April 10, 2017, the Securities and Exchange Commission (“SEC”) announced “enforcement actions against 27 individuals
and entities behind various alleged stock promotion schemes” that involved public companies including ImmunoCellular. Additionally,
as part of an SEC proceeding, the Company’s former Chief Executive Officer, Manish Singh acknowledged, among other things, that he
participated “in a paid stock-touting scheme”.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is
adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the
putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff
or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding ImmunoCellular’s conduct to contact the firm,
including whistleblowers, former employees, shareholders and others.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future
matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential
manner.
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
View source version on businesswire.com: http://www.businesswire.com/news/home/20170602005691/en/