NEW YORK, June 4, 2020 /PRNewswire/ -- Moore Kuehn, PLLC, a securities law firm located on Wall Street, is investigating potential claims involving directors and officers regarding possible breaches of fiduciary duties related to whether insiders caused their companies to make false and/or misleading statements and/or failed to disclose, among other things, that:
- Colony Capital, Inc. (NYSE: CLNY)
Colony's sale of its industrial real estate portfolio and the bifurcation of Colony Credit Real Estate's portfolio were likely to negatively impact Colony's financial and operating results; and certain of Colony's remaining portfolio companies carried unsustainable levels of debt secured by hotels and healthcare-related properties and were thus at a significant risk of default.
- Sorrento Therapeutics, Inc. (NASDAQ: SRNE)
Sorrento recently announced that it had discovered an antibody that had "demonstrated 100% inhibition of SARS-CoV-2 virus infection." The same day, the Chief Executive Officer referred to Sorrento's breakthrough as a "cure." Sorrento shares increased $4.14 to close at $6.76 on May 15, 2020. On May 20, 2020, Hindenburg Research issued a report doubting the validity of Sorrento's claims that it had discovered an antibody demonstrating "100% inhibition of SARS-CoV-2 virus infection," and calling them "sensational," "nonsense" and "too good to be true."
- CytomX Therapeutics, Inc. (NASDAQ: CTMX)
CytomX had issues with CX-072's efficacy observed in the PROCLAIM-CX-072 clinical program; and CytomX had similarly issues with CX-2009's efficacy and safety observed in the PROCLAIM-CX-2009 clinical program.
If you own CLNY, SRNE, or CTMX please contact Fletcher Moore, Esq. by email at fmoore@moorekuehn.com or telephone at (212) 709-8245. There is no cost or obligation to you. Moore Kuehn is a New York-based law firm with attorneys representing investors and consumers in class action litigation involving securities law violations, financial fraud, breaches of fiduciary duties, and other claims. For additional information about Moore Kuehn, please go to http://www.moorekuehn.com/practice/new-york-shareholder-derivative-litigation/
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Contacts:
Moore Kuehn, PLLC
Fletcher Moore, Esq.
30 Wall Street, 8th Floor
New York, New York 10005
fmoore@moorekuehn.com
(212) 709-8245
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