NEW YORK (Legal Newsline) — A shareholder is suing a New York gene therapy company and its officers, alleging violation of federal law.
David Reilly filed a class action complaint, individually and on behalf of all others similarly situated Dec. 16 in U.S. District Court for the Southern District of New York against Abeona Therapeutics Inc., formerly known as Plasmatech Biopharmaceuticals, Inc., Steven H. Rouhandeh and Stephen B. Thompson, alleging they disclosed false and inaccurate information regarding the company's financial report, violating the SEC Act of 1934.
According to the complaint, Reilly suffered monetary damages from purchasing securities at artificially inflated prices. The plaintiff alleges the defendants issued false statements in order to artificially inflate the value of Abeona's securities.
Reilly seeks trial by jury, compensatory damages plus interest, all legal fees and any other relief the court deems just. He is represented by attorneys Philip Kim and Laurence M. Rosen of The Rosen Law Firm PA in New York.
U.S. District Court for the Southern District of New York Case number 1:16-cv-09730-PAE