Levi & Korsinsky, LLP announces the commencement of a class action lawsuit in the USDC for the District of New Jersey on behalf of shareholders of PixarBio Corporation (OTCMKTS: PRXRB) (1) pursuant and/or traceable to PixarBio’s private placement that closed on October 30, 2016; and/or (2) publicly traded on the open market from October 31, 2016 through January 20, 2017.
The complaint alleges that PixarBio made false and/or misleading statements and/or failed to disclose that: (1) the market for PixarBio’s securities exhibited manipulative or deceptive activities; (2) certain assertions in press releases, third party promotional materials, and PixarBio’s Form S-1 lacked accuracy; and (3) as a result, the Company’s public statements were materially false and misleading. On January 23, 2017, the Securities and Exchange Commission announced the temporary suspension of PixarBio trading stating, in part, that “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.”
If you suffered a loss in PixarBio you have until March 27, 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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