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Precigen | PGEN (Ex Intrexon | XON) $13M Shareholder Settlement

Claim deadline for this case already passed by, but we can still try and file for compensation for you
N.D. California
Court
5:20-cv-06936-BLF
Case number
10 May 2017
Class period Start
25 Sept 2020
Class period End
25 Nov 2023
Claim deadline
Precigen | PGEN (Ex Intrexon | XON) agreed to pay $13 million to settle a securities class action lawsuit to avoid further litigation.

The Complaint alleged that the Company & Its Leaders made false and/or misleading statements and/or failed to disclose to investors that:
  • the Company was using pure methane as feedstock for its announced yields for its methanotroph bioconversion platform instead of natural gas;
  • yields from natural gas as a feedstock were substantially lower than the aforementioned pure methane yields;
  • due to the substantial price difference between pure methane and natural gas, pure methane was not a commercially viable feedstock;
  • the Company’s financial statements for the quarter ended March 31, 2018 were false and could not be relied upon;
  • the Company had material weaknesses in its internal controls over financial reporting;
  • the Company was under investigation by the SEC since October 2018
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.13
Filing date
05 October 2020
Plaintiffs
Raju Shah
Attorneys
Scott+Scott Attorneys at Law LLP (San Diego, CA), The Schall Law Firm (Los Angeles, CA)
Defendants
Randal J. Kirk,
Judge
Hon. Beth Labson Freeman
Administrator
A.B. Data Ltd
Court hearing date
19 October 2023
Exclusion deadline
26 September 2023
Objection deadline
26 September 2023
Hearing deadline
26 September 2023
Class wide damages
$65,000,000
Trades matching type
FIFO
+$13,000,000
Total Settlement Amount
Created by Stan Vick, Scout

Precigen Inc

Precigen, Inc. operates as a discovery and clinical stage biopharmaceutical company that develops gene and cell therapies using precision technology to target diseases in therapeutic areas of immun...

    Ticker
    PGEN.US
    ISIN
    US74017N1054
    CIK
    1356090
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    20374 Seneca Meadows Parkway, Germantown, MD, United States, 20876