Securities,
Civil Litigation
Jun. 1, 2020
Investors sue San Diego company over virus antibody claim
According to the complaint, shares dropped after analysts issued a report doubting the validity of the claims.
A biopharmaceutical company is accused in a proposed class action of misleading investors when it claimed to have discovered an antibody to fight the coronavirus, a claim rebutted by researchers days later, causing stock prices to plunge.
Henry Ji, chief executive officer of Sorrento Therapeutics, made the announcement about the alleged cure in a Fox News interview May 15.
"Defendants misrepresente...
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