Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in PixarBio Corporation (OTC: PXRB) in connection to alleged violations of securities laws by PXRB and certain of its officers. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in PixarBio Corporation common stock between October 30, 2016 and January 20, 2017.
The lawsuit specifically alleges that PixarBio Corporation and certain of its officers made false and/or misleading statements, and/or failed to disclose that the company’s press releases and third party promotional materials contained untruthful representations, that there was deception or manipulation in the market for PixarBio Corporation securities, and that as a result of the foregoing PXRB’s public statements were false and misleading.
The Securities and Exchange Commission (SEC) announced on January 23, 2017 that it had issued a temporary suspension of trading of PXRB for the following reasons: “because the market for the security appears to reflect manipulative or deceptive activities and because of questions regarding the accuracy of assertions by PixarBio in press releases and its Form S-1 concerning, among other things: (1) the company’s business combinations and current shareholders; (2) the identity and qualifications of key shareholders and employees; and (3) the company’s current and prospective development efforts.”
A class action lawsuit has already been filed in connection with PXRB. If you wish to serve as lead plaintiff in the PixarBio Corporation lawsuit, you must move the Court no later than March 27, 2017. If you wish to join the litigation, please contract Marc Fitapelli at 212-658-1501 or Jonathan Kurta at 212-658-1502. There is no cost or obligation to you and your ability to share in any recovery does not require that you serve as a lead plaintiff.