Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of Intrexon Corporation (NYSE: XON) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of Intrexon Corporation (NYSE: XON) concerning whether a series of statements by Intrexon Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On August 9, 2018, the Company revealed it would restate its unaudited interim consolidated financial statements for the quarter ended March 31, 2018. The Company improperly applied Accounting Standards Codification Topic 606, Revenue from Contracts with Customers, resulting in the restatement. According to Intrexon, “these errors have resulted in an overstatement of deferred revenue and accumulated deficit by approximately $67 million as of the adoption date[.]”
Following this news, NYSE: XON fell 2.21%, to close at $15.05 per share on August 10, 2018.
Based in Germantown, Maryland, and founded in 1998 Intrexon Corporation operates in the synthetic biology field in the United States.
If you purchased shares of Intrexon Corporation (NYSE: XON) on or before August 9, 2018, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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