Pawar Law Group Announces Investigation of Securities Claims Against Lion Biotechnologies, Inc. – LBIO

NEW YORK, NY / ACCESSWIRE / April 12, 2017 / The Pawar Law Group announces it is investigating potential securities claims on behalf of shareholders of Lion Biotechnologies, Inc. (NASDAQ: LBIO) resulting from allegations that the Company may have issued materially misleading business information to the investing public.

On April 10, 2017, the U.S. Securities and Exchange Commission found that between “September 2013 to March 2014, Lion, through its former Chief Executive Officer, Manish Singh, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion to potential investors that purported to be independent from the company when, in fact, they were paid promotions. Singh engaged Lidingo Holdings, a stock promotion firm, to pay writers to publish articles about Lion on investment websites as well as to coordinate the distribution of articles to thousands of electronic mailboxes. Singh actively participated in Lidingo’s promotional work for Lion and understood that Lidingo was using writers who would not disclose that Lion was indirectly compensating them for their publications.” On this news, shares of Lion fell $0.20 per share or 3.05% to close at $6.35 per share on April 10, 2017.

Our investigation concerns whether the Company issued false and misleading statements to investors causing investor losses. If you own Company shares and wish to learn how to protect your investment and recover your losses in Company stock, please visit http://pawarlawgroup.com/cases/lion-biotechnologies-inc/
or contact Vik Pawar at 212-571-0805.

Contact:

Vik Pawar, Esq.

Pawar Law Group

20 Vesey Street, Suite 1210

New York, NY 10007

Tel: (212) 571-0805

Fax: (212) 571-0938

vik@pawarlawgroup.com

SOURCE: Pawar Law Group

ReleaseID: 459631