LGVN.US
id: 684, Created by Stan Vick, Scout
Longeveron Inc. (LGVN) $1.4 IPO Settlement
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- Company agreed to pay compensation to its investors, to avoid further litigation
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Claim deadline for this case already passed by, but we can still try and file for compensation for you
Claim payout
S.D. Florida
Court21-CV-23303
Case number12 Feb 2021
Class period Start12 Aug 2021
Class period End08 Sept 2023
Claim deadlineLongeveron Inc. (LGVN) settles $1.3975 M with Investors.
The Complaint alleges that the Offering Documents were negligently prepared and, as a result, contained untrue statements of a material fact or omitted to state other facts necessary to make the statements made not misleading and were not prepared in accordance with the rules and regulations governing their preparation. Specifically, the Complaint alleges that the Offering Documents and Defendants made false and/or misleading statements and/or failed to disclose that:
- Lomecel-B was not as effective in treating aging frailty as Defendants had led investors to believe;
- accordingly, Lomecel-B's clinical and commercial prospects with respect to aging frailty were overstated; and
- as a result, the Offering Documents and Defendants' public statements throughout the Class Period were materially false and/or misleading and failed to state the information required to be stated therein.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
1.48
Filing date
13 September 2021
Lead plaintiff
Jerald Vargas Malespin
Attorney
The Rosen Law Firm, P.A. (New York, NY)
Defendants
Geoff Green, James Clavijo, Joshua M. Hare, Donald M. Soffer, Neil E. Hare, Rock Soffer
Judge
Hon. Roy K. Altman
Administrator
Strategic Claims Services
Court hearing date
10 October 2023
Exclusion deadline
25 August 2023
Objection deadline
26 September 2023
Hearing deadline
26 September 2023
+$1,397,500
Total Settlement AmountCase history
Stan Vick
01 September 2023
- Longeveron Inc. $LGVN pays $1.3975 million to investors to settle claims over misleading IPO.