LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Precigen, Inc. (“Precigen” or “the Company”) (NASDAQ: PGEN) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 10, 2017 and September 25, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before December 4, 2020.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. Precigen used pure methane in place of natural gas as feedstock for its methanotroph bioconversion platform, producing a high yield. In fact, the yield from natural gas was considerably lower. Pure methane was not a commercially viable feedstock based on its high price compared to natural gas. The Company was under investigation by the SEC since October 2018. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about Precigen, investors suffered damages.
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