SAN FRANCISCO – A stockholder has filed a class-action lawsuit against a Virginia company and its CEO and chief financial officer alleging he was damaged as a result of misleading reports.
Ryan Hoffman filed a complaint on behalf of all others similarly situated on May 3 in the U.S. District Court for the Northern District of California against Intrexon Corp., Randal J. Kirk and Rick L. Sterling, citing violation of federal securities laws.
According to the complaint, the plaintiff alleges that, between May 11, 2015, and Feb. 29, the defendants allegedly issued misleading and false financial statements in order for the stock to artificially inflate, which cause class members to purchase stock at artificially inflated prices.
The plaintiff requests a trial by jury and seeks damages sustained by the plaintiff and the class, interest, all legal fees and any other relief as the court deems just. He is represented by Laurence M. Rosen of The Rosen Law Firm PA in Los Angeles.
U.S. District Court for the Northern District of California Case number 3:16-cv-02398-RS