NEW YORK, June 3, 2024 /PRNewswire/ -- Hach Rose Schirripa & Cheverie, LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of law by certain officers and directors at Global Cord Blood Corporation (OTCPK:CORBF) ("Global Cord" or the "Company"). Global Cord is a life sciences enterprise dedicated to the storage of umbilical cord blood stem cells. The Company offers cord blood testing, processing, and storage services under the direction of subscribers; and tests, processes, and stores donated cord blood, as well as provides matching services.
Hach Rose Schirripa & Cheverie LLP's investigation is focused on its acquisition of Cellenkos Inc. ("Cellenkos"), a biotechnology company based in Houston that focuses on umbilical cord blood-derived stem cell therapies. Specifically, the investigation is focused on the involvement and control of Global Cord's largest shareholder, Golden Meditech Holdings Limited ("Golden Meditech"), which orchestrated the acquisition without shareholder approval and which transaction resulted in undisclosed payments to Golden Meditech.
On April 22, 2024, a class action complaint was filed against Global Cord in the Southern District of New York, alleging violations of the federal securities laws related to the Cellenkos acquisition.
Hach Rose Schirripa & Cheverie, LLP specializes in the fields of securities, corporate governance and consumer protection litigation. The firms' attorneys have successfully litigated complex class actions in both state and federal courts through the United States and are committed to protecting investors' assets and victims of corporate wrongdoing.
If you purchased Global Cord common stock between June 4, 2019 and May 3, 2022 and have significant losses, or have knowledge that may assist the firm's investigation, please contact attorney Scott R. Jacobsen at (212) 213-8311 or by email at sjacobsen@hrsclaw.com.
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SOURCE Hach Rose Schirripa & Cheverie LLP
