SAN FRANCISCO, July 15, 2020 /PRNewswire/ — Hagens Berman urges investors in NanoViricides, Inc. (NNVC) to submit their losses now. The firm is investigating possible securities fraud, and certain investors may have valuable claims. Hagens Berman also encourages persons who may be able to assist the firm’s investigation to contact its attorneys.
Relevant Period: Before July 14, 2020
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NanoViricides (NNVC) Investigation:
Hagens Berman’s proprietary investigation focuses on whether NanoViricides has misled investors about its activities concerning its development activities related to drugs including a potential treatment for COVID-19.
NanoViricides’ management has repeatedly touted the company’s work on a potential treatment for COVID-19, and other drug development activities during the months leading up to a recent issuance of underwritten securities.
Recently, on July 14, 2020, CNBC reported NanoViricides began a press tour in late January saying it was close to clinical trials for a treatment for COVID-19 and the news appears to have caused its stock price to soar.
CNBC observed the company in the past has made announcements about drug developments during other global health scares such as Ebola, bird flu, and swine flu, and each time the company’s stock appeared to rise on the news before falling.
CNBC also quoted a member of the company’s scientific advisory board: “‘(t)hey’ve had something for shingles, they’ve had something for hepatitis C,’ ‘(i)n every case they have supposedly (had) great results in cell studies,’ ‘(f)or some reason they have some reason not to pursue it,’ and ‘(a)fter awhile I just didn’t like this constant recycling of products and never getting beyond the initial stage.'”
“We’re focused on investors’ losses and whether NanoViricides has accurately represented the work it is doing toward a potential COVID-19 and other treatments,” said Reed Kathrein, the Hagens Berman partner leading the investigation. “We welcome any and all leads that could assist us in protecting investors.”
Whistleblowers: Persons with non-public information regarding NanoViricides should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email (email protected).mailto:
About Hagens Berman
Hagens Berman is a national law firm with nine offices in eight cities around the country and eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 844-916-0895
SOURCE Hagens Berman Sobol Shapiro LLP