NEWARK, N.J. (Legal Newsline) – A clinical stage biotechnology company headquartered in Georgia is alleged to have deceived the investing public and engaged in a scheme to inflate the prices of securities.
Anthony Pepe filed a complaint individually and on behalf of all others similarly situated on Sept. 20 in the U.S. District Court for the District of New Jersey against Cocrystal Pharma Inc., formerly known as BioZone Pharmaceuticals Inc.; Director Phillip Frost; et al. alleging violation of federal securities laws.
According to the complaint, the plaintiff is suing on behalf of class members who purchased Cocrystal and/or BioZone securities from Sept. 23, 2013, to Sept. 7, 2018. The suit states on Sept. 7, 2018, the Securities and Exchange Commission released a press release that announced Frost was named in a complaint over allegations of fraudulent schemes. The suit states after this announcement, Cocrystal shares fell more than 15.5 percent and damaged investors.
The plaintiff holds Cocrystal Pharma Inc., et al. responsible because the defendants allegedly employed devices, schemes and artifices to defraud in violation of the Securities Exchange Act of 1934.
The plaintiffs request a trial by jury and seek judgment against defendants, damages, interest, attorneys’ fees, expert fees and other costs, and further relief as the court may deem just. He is represented by Laurence M. Rosen of The Rosen Law Firm PA in South Orange, New Jersey.
U.S. District Court for the District of New Jersey case number 2:18-cv-14091