NEW YORK, Oct. 27, 2014 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed in the United States District Court for the District of Delaware, on behalf of all persons who purchased or otherwise acquired iBio, Inc. ("IBIO" or the "Company") (NYSE:IBIO) securities during the period between October 13, 2014 and October 23, 2014, inclusive, inclusive (the "Class Period"). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934 (the "Exchange Act").
The Complaint alleges that during the Class Period, the Company issued materially false and misleading statements to investors by wrongfully suggesting that the Company's Launch platform patents and related proprietary technology would be licensed by the makers of the experimental Ebola drug, ZMapp. The Complaint alleges that when the true facts were revealed, the price of the Company's stock dropped, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than December 23, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at firstname.lastname@example.org or email@example.com.
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Source:Gainey McKenna& Egleston