Inovio is being sued for false claims of COVID-19 vaccine
Shareholders of INO are filing lawsuit against Inovio for false claims of developments of vaccine for COVID-19. Investors who purchased at least 1,000 shares of INO stock between February 14, 2020 and March 9, 2020 will be able to become a class member upon the lawsuit. The suit alleges that Inovio’s CEO J. Joseph Kim stated on Fox News that Inovio had developed a COVID-19 vaccine. The market reacted favorably to this statement as the stock shot from $4 to $19 on March 9, 2020. Before trading commenced, Citron Research exposed Defendants’ misstatements, calling for an SEC investigation into the Company’s claim. Since then, the Inovio stock has plummeted to it’s current price, $6.49. Thornton Law Firm’s securities attorneys are highly experienced in representing individual shareholders and institutional investors in recovering damages caused by violations of the securities law. You can visit them at https://www.tenlaw.com/cases/INO.
March 19, 2020