LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Cocrystal Pharma, Inc. To Contact The Firm
NEW YORK, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Cocrystal Pharma, Inc. (“Cocrystal” or the “Company”) (NASDAQ:COCP) formerly known as BioZone Pharmaceuticals, Inc. (“BioZone”) of the November 19, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Cocrystal stock or options between September 23, 2013 and September 7, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/COCP. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to email@example.com.
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The lawsuit has been filed in the U.S. District Court for the District of New Jersey on behalf of all those who purchased Cocrystal and/or BioZone securities between September 23, 2013 and September 7, 2018 (the “Class Period”). The case, Pepe v. Cocrystal Pharma, Inc. f/k/a BioZone Pharmaceuticals, Inc. et al, No. 18-cv-14091 was filed on September 20, 2018 and has been assigned to Judge Kevin McNulty.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose that: (1) the company and certain of its officers were engaged in a pump-and-dump scheme to artificially inflate Cocrystal’s stock price; (2) this illicit scheme would result in governmental scrutiny, including from the U.S. Securities and Exchange Commission (“SEC”); (3) the Company failed to abide by SEC disclosure regulations; and (4) as a result, the Company’s statements about Cocrystal’s business, operations and prospects were materially false and misleading.
Specifically, on September 7, 2018, the SEC filed a lawsuit against Phillip Frost, one of the Company’s directors and shareholders, and others, alleging violations of federal securities laws. According to the SEC’s complaint, Phillip Frost allegedly participated in at least two unlawful pump-and-dump schemes involving various microcap companies.
After the lawsuit was announced, Cocrystal’s share price fell from $3.74 per share on September 6, 2018, to a closing price of $3.16 on September 11, 2018—a $0.58 or a 15.51% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Cocrystal’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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