NEW YORK–(BUSINESS WIRE)–Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Precigen, Inc. f/k/a Intrexon Corporation (NASDAQ: PGEN, XON) resulting from allegations that the Company may have issued materially misleading business information to the investing public.
On September 25, 2020, the U.S. Securities and Exchange Commission announced a cease-and-desist order against the Company which involved “inaccurate reports concerning the company’s purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.” The cease-and-desist order noted that “Intrexon was primarily using significantly more expensive pure methane for the relevant laboratory experiments but was indicating that the results had been achieved using natural gas.”
Further, the cease-and-desist order stated that “Intrexon pitched the MBC program privately to numerous potential business partners over the course of 2017 and 2018. A number of these potential partners performed due diligence on the MBC program including reviewing lab results and plans for commercialization. Intrexon has not yet found a partner for the MBC program.”
Rosen Law Firm is preparing a securities lawsuit on behalf of Precigen f/k/a Intrexon shareholders. If you purchased securities of Precigen f/k/a Intrexon please visit the firm’s website at http://www.rosenlegal.com/cases-register-1964.html to join the securities action. You may also contact Phillip Kim of Rosen Law Firm toll free at 866-767-3653 or via email at mailto:firstname.lastname@example.org or email@example.com.
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