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Levi & Korsinsky announces the commencement of a class action in the USDC for the Southern District of New York on behalf of shareholders who purchased and/or otherwise acquired securities of (1) PlasmaTech Biopharmaceuticals, Inc. between March 31, 2015 and June 19, 2015; and/or (2) Abeona Therapeutics (NASDAQ: ABEO) between June 22, 2015 and December 9, 2016.
The complaint alleges that throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) the science behind Abeona’s proposed gene therapy treatment for Sanfilippo syndrome is unviable; (2) Steven H. Rouhandeh, Abeona’s Executive Chairman and Principal Executive Officer, previously worked for a biotech promoter who was convicted of securities fraud and involved in manipulating biotech stocks; and (3) as a result, Defendants’ statements about Abeona’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On December 12, 2016, analyst firm Mako Research published a report on Abeona asserting, among other things, that Abeona’s science underpinning its gene therapy approach is unviable and that Rouhandeh previously worked in a position of authority at D. Blech & Co.—a firm named after nowconvicted felon David Blech.
If you suffered a loss in Abeona you have until February 14, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
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