Thieler Law Corp advises investors with losses exceeding $100,000 of the June 13, 2017 lead plaintiff deadline in a class action lawsuit filed against Lion Biotechnologies Inc (NASDAQ: LBIO) (“Lion” or “the Company”). The suit is pending in the U.S. District Court for the Northern District of California and investors, who purchased Lion Biotechnologies Inc securities between November 14, 2013 and April 10, 2017, have until June 13, 2017 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased Lion Biotechnologies Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Lion Biotechnologies, through its former CEO Manish Singh, engaged in a scheme to mislead investors by commissioning over 10 internet publications and 20 widely distributed emails promoting Lion Biotechnologies to potential investors that purported to be independent from the company when, in fact, they were paid promotions; former CEO Singh engaged a notorious stock promotion firm to pay writers to publish articles about Lion Biotechnologies on investment websites as well as to coordinate the distribution of articles to thousands of electronic mailboxes;  former CEO Singh actively participated in the promotional work for Lion Biotechnologies and understood that the promotion firm was using writers who would not disclose that Lion Biotechnologies was indirectly compensating them for their publications; and  as a result, defendants’ public statements were materially false and misleading at all relevant times.

On May 14, 2014, the Company revealed it received a subpoena from the Securities and Exchange Commission (“SEC”). 

On November 12, 2014, the Company issued a press release announcing the resignation of Singh. 

On April 10, 2017, the Securities and Exchange Commission (“SEC”) found that between September 2013 and March 2014, the Company, through Singh, engaged in the aforementioned scheme to mislead investors.

Following this news, NASDAQ:LBIO fell $0.50, or 7.63% over the following trading days, to close at $6.05 on April 13, 2017.

If you were negatively impacted by your investment in Lion Biotechnologies Inc securities between November 14, 2013 and April 10, 2017 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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