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Robbins LLP Reminds Inovio Pharmaceuticals, Inc. Stockholders of the Pending Class Action Against INO and Urges Harmed Stockholders to Seek More Information
Businesswire· 2026-03-20 19:50
Core Viewpoint - Robbins LLP is reminding stockholders of Inovio Pharmaceuticals, Inc. about a pending class action lawsuit related to alleged misleading information regarding the company's CELLECTRA device and its regulatory submissions to the FDA [1][2]. Group 1: Class Action Details - A class action was filed on behalf of all individuals who purchased or acquired Inovio Pharmaceuticals, Inc. securities between October 10, 2023, and December 26, 2025 [1]. - The allegations include that Inovio misled investors by failing to disclose deficiencies in the manufacturing of the CELLECTRA device, which impacted the timeline for submitting the INO-3107 Biologics License Application (BLA) to the FDA [2][3]. - The complaint states that Inovio was unlikely to submit the INO-3107 BLA by the second half of 2024 and that the overall regulatory and commercial prospects of INO-3107 were overstated [2]. Group 2: Stock Price Impact - On August 8, 2024, Inovio announced a delay in the submission of the INO-3107 BLA to mid-2025 due to manufacturing issues, resulting in a stock price drop of $0.27 per share, or 3.1%, closing at $8.44 on August 9, 2024 [3]. - Following a December 29, 2025 announcement that the FDA accepted the INO-3107 BLA for standard review rather than accelerated review, Inovio's stock price fell by $0.56 per share, or 24.45%, closing at $1.73 [4]. Group 3: Shareholder Actions - Shareholders may be eligible to participate in the class action and must submit their papers to the court by April 7, 2026, to serve as lead plaintiff [5]. - Participation in the case is not required to be eligible for recovery, and shareholders can remain absent class members if they choose [6].
OST Investor Losses Mount as Sentiment Shifts from Optimism to Devastation — Levi & Korsinsky, LLP
Globenewswire· 2026-03-09 20:00
Core Insights - The article discusses a significant fraud case involving Ostin Technology Group Co., Ltd. (Nasdaq: OST), where retail investors were misled into believing in a lucrative investment opportunity, leading to a catastrophic stock price drop of 94.1% on June 26, 2025, resulting in over $950 million in market capitalization loss [1] Group 1: Investor Sentiment and Manipulation - A coordinated promotional campaign began in May 2025, utilizing fake investment advisor identities and AI-generated deepfake videos to create a false sense of institutional endorsement for OST [3] - WhatsApp groups were used to disseminate buy signals, with instructions to purchase OST shares between $4.50 and $5.00, creating artificial peer pressure among investors [3] - Initial recommendations of legitimate stocks that yielded small gains were made to establish credibility before directing victims towards OST [4] Group 2: Suppression of Dissent and False Promises - Members expressing skepticism in WhatsApp groups were removed to maintain a facade of enthusiasm [4] - Fabricated acquisition rumors suggested a major OLED display company would acquire OST at a premium, supported by a fake 20-page market analysis [4] - Promises of unrealistic returns, such as "15-25% weekly returns" and profits "up to 300%", were made despite OST's modest $38 million annual revenue and negative 27% profit margin [4] Group 3: The Collapse and Aftermath - On June 26, 2025, victims were advised to hold their shares until July 4, but coordinated selling led to a dramatic collapse, with trading volume reaching 34.55 million shares, over five times the daily average [5] - Individual losses varied significantly, with some investors losing amounts ranging from $7,000 to over $1,000,000, impacting life savings and college funds [5] - The fraud affected investors across multiple countries, including the United States, United Kingdom, Germany, Israel, Canada, Italy, the Netherlands, Switzerland, and Croatia [5]
OST INVESTOR LOSSES MOUNT AS SENTIMENT SHIFTS FROM OPTIMISM TO DEVASTATION -- SUEWALLST
Prnewswire· 2026-03-05 19:25
Core Insights - Investor sentiment shifted dramatically from optimism to devastation as Ostin Technology Group Co., Ltd. (Nasdaq: OST) experienced a catastrophic stock collapse, losing over $950 million in market capitalization in a single trading session [1] Group 1: Investor Sentiment and Market Reaction - Thousands of retail investors across six countries believed they had found a lucrative opportunity in OST, driven by AI-generated deepfake videos and a coordinated promotional campaign [1] - On June 26, 2025, OST's stock plummeted 94.1%, falling from an intraday peak of $9.40 to $0.55, resulting in a loss of $8.85 per share [1] - The trading volume surged to 34.55 million shares, more than five times the daily average, indicating a coordinated selling effort that triggered the collapse [1] Group 2: Promotional Tactics and Investor Manipulation - A promotional campaign began in May 2025, utilizing fabricated identities and stolen credentials to create an illusion of institutional endorsement [1] - WhatsApp groups were used to disseminate daily buy instructions, creating artificial peer pressure among investors [1] - Skeptics within these groups were silenced to maintain a false consensus, and fabricated acquisition rumors were spread to bolster confidence in OST [1] Group 3: Financial Performance and Institutional Interest - OST's financials showed $38 million in annual revenue and a negative 27% profit margin, raising questions about the sustainability of promised returns of "15-25% weekly" and "up to 300%" [1] - Institutional ownership remained at a mere 0.1% throughout the stock's rise, indicating a lack of interest from professional money managers [1] - No significant earnings surprises or technological breakthroughs were announced to justify the stock's dramatic price increase of 1,175% [1]
Scam on Rye: the Inside Story of a $100 Million Deli Fraud
Business Insider· 2026-02-15 09:18
Core Insights - The article details the rise and fall of Hometown International, a company that owned Your Hometown Deli, which became infamous for its inflated stock value despite minimal revenue, highlighting issues of stock manipulation and fraud in the financial markets [4][42][55] Company Overview - Hometown International was incorporated in May 2014 with the deli as its sole asset, and it had a market cap of $113 million despite earning only $36,000 in revenue over the previous two years [27][42] - The deli was intended to serve as a community hub and a retirement plan for Paul Morina, a celebrated wrestling coach in Paulsboro, New Jersey [3][4] Financial Manipulation - The stock of Hometown International rose dramatically, reaching $14 per share, which represented a market cap of over $113 million, despite the company having less than $36,000 in sales [42][55] - The manipulation involved transferring shares to nominee entities and conducting trades to create a false impression of market interest, which inflated the stock price [39][40] Investment and Partnerships - Duke and Vanderbilt Universities invested $1.25 million each in Hometown International, which was managed by Maso Capital, raising concerns about due diligence and oversight in their investment processes [34][35] - The involvement of Peter Coker Jr. and his connections in Hong Kong was pivotal in the scheme, as he sought to leverage the deli's public status for further financial gain [31][32] Legal Consequences - The scheme led to federal investigations, resulting in charges against key figures, including James Patten and the Cokers, for securities fraud and stock manipulation [51][53] - Patten faces a maximum sentence of 20 years in prison and restitution fees of $5.5 million, while the Cokers have also pleaded guilty to related charges [54][55]
Shareholders that lost money on Tronox Holdings plc(TROX) Urged to Join Class Action – Contact The Gross Law Firm to Learn More
Globenewswire· 2025-09-10 19:48
Core Points - Tronox Holdings plc (NYSE: TROX) is facing a class action lawsuit due to allegations of providing misleading statements about its financial health and sales forecasts [3][4] - The class period for the lawsuit is from February 12, 2025, to July 30, 2025, during which Tronox's stock price experienced a significant decline following disappointing financial results [3][4] - On July 30, 2025, Tronox reported a substantial drop in TiO2 sales, attributing it to a weaker coatings season and increased competition, leading to a lowered revenue outlook and a 60% reduction in dividends [3][4] Company Performance - Tronox's stock price fell from $5.14 per share on July 30, 2025, to $3.19 per share on July 31, 2025, marking a decline of approximately 38% in one day [3] - The company’s forecasting processes were criticized for failing to accurately predict demand, resulting in declining sales and increased costs [3] Legal Proceedings - Shareholders who purchased shares during the specified class period are encouraged to register for the class action, with a deadline for lead plaintiff applications set for November 3, 2025 [4] - The Gross Law Firm is representing the shareholders, emphasizing its commitment to protecting investor rights against fraudulent practices [5]