ENOB Class Action Complaint Filed: Johnson Fistel, Globally-Recognized Law Firm Encourages Shareholders to Submit Their Enochian Losses
SAN DIEGO, July 26, 2022 (GLOBE NEWSWIRE) — Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has commenced on behalf of investors of Enochian Biosciences Inc. (“Enochian” or the “Company”) (NASDAQ: ENOB). The class action is on behalf of shareholders who purchased Enochian securities between September 24, 2020 and May 31, 2022, both dates inclusive (the “Class Period”). Investors are hereby notified that they have until September 26, 2022 to move the Court to serve as lead plaintiff in this action.
What actions may I take at this time? If you suffered a loss and are interested in learning more about being a lead plaintiff, please contact Jim Baker (firstname.lastname@example.org) by email or phone at 619-814-4471. If emailing, please include a phone number.
There is no cost or obligation to you.
The complaint alleges that, throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) Gumrukcu was not a licensed doctor and had no verifiable degrees beyond high school; (ii) accordingly, the scientific and technological underpinnings of Enochian’s product pipeline, purportedly invented by Gumrukcu, were dubious at best; (iii) accordingly, the Defendants had significantly overstated the commercial prospects for the Company’s product pipeline; (iv) Enochian’s senior leadership knew Gumrukcu had a criminal history that included fraud; (v) accordingly, Enochian’s reliance on Gumrukcu, and its consulting and licensing agreements with G-Tech and SRI, subjected the Company to a heightened risk of reputational and financial harm, as well as threatened the integrity of the Company’s scientific findings; and (vi) as a result, the Company’s public statements were materially false and misleading at all relevant times.
A lead plaintiff will act on behalf of all other class members in directing the Enochian class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the Enochian class action lawsuit is not dependent upon serving as lead plaintiff. For more information regarding the lead plaintiff process please refer to https://www.johnsonfistel.com/lead-plaintiff-deadlines.
About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. Johnson Fistel seeks to recover losses incurred due to violations of federal securities laws. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson Fistel, LLP
Jim Baker, 619-814-4471