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RENB.US
id: 1101

Renovaro Biosciences (RENB) Hypes up Merger To Mislead Retail Investors Case

  • On February 13, 2024, Hindenburg Research published a report accusing Renovaro (RENB) of engaging stock promoters to hype up the GEDi merger deal in order to pump shares to retail investors.
  • On it, $RENB fell 42.86%, losing substantial shareholder value.
  • Investors may have grounds to suspect Renovaro of fraudulent actions, which led to their losses.
On February 13, 2024, Hindenburg Research ("Hindenburg") published a short report on Renovaro, claiming that in the months leading up to the vote on Renovaro's merger with GEDi Cube, Renovaro enlisted stock promoters, including one previously sanctioned by the SEC, to hype up the GEDi deal and pump shares to retail investors.

On this news, $RENB fell 42.86% and lost substantial portion of its market capitalization, seriously damaging shareholders.

Considering all the information, investors might have grounds to suspect Renovaro Biosciences of intentionally misleading investors, which led to their losses.

The case is already under investigation by at least one of the reputable law firms.
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
13 February 2024
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Renovaro Biosciences Inc.

Renovaro Inc., a pre-clinical stage biotechnology company, engages in the research and development of pharmaceutical and biological products for the human treatment of human immunodeficiency virus ...

    Ticker
    RENB.US
    ISIN
    US29350E1047
    CIK
    1527728
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    2080 Century Park East, Los Angeles, CA, United States, 90067