Biotech Values

[ghmm]

ABEO / class action lawsuits

I thought this interesting. Two different law firms have PR's for class action lawsuits and both with nearly identical text siting a Seeking Alpha article no less!

http://finance.yahoo.com/news/investor-loss-alert-rosen-law-211000916.html

On December 12, 2016, Mako Research published a report on SeekingAlpha.com stating that “ABEO science is demonstrably unviable with numerous irrefutable flaws that will lead to failure.” The report also revealed that Abeona’s Executive Chairman and Principal Executive Officer, Steven H. Rouhandeh, was once a managing director at D. Blech & Co., a brokerage firm that was the subject of SEC investigations in the 1990s, and a securities class action that resulted in a settlement of $15 million for investors, relating to allegations that the firm manipulated the price of several biotech stocks through sham transactions that artificially inflated and maintained the market price of the biotech stocks in order to keep the firm’s interest in such stocks afloat. On this news, shares of Abeona fell sharply during intraday trading on December 12, 2016.

http://finance.yahoo.com/news/shareholder-alert-goldberg-law-pc-004200517.html

Mako Research published a report on SeekingAlpha.com finding that “ABEO science is demonstrably unviable with numerous irrefutable flaws that will lead to failure.” According to the report, Steven H. Rouhandeh, the Company’s Executive Chairman and Principal Executive Officer, was once a managing director at D. Blech & Co., a brokerage firm that was the subject of SEC investigations during the 1990s and was subject to a securities class action suit that resulted in a $15 million investor settlement due to allegations that the firm manipulated the price of some biotech stocks through transactions that artificially inflated the market price of the stocks to keep the firm’s interest in these stocks afloat. When this information was revealed to the public, the value of Abeona fell, causing investors severe harm.