The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Enochian BioSciences, Inc. (NASDAQ: ENOB) who purchased shares between January 17, 2018 and June 27, 2022. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Enochian lawsuit alleges that (1) the Company’s co-founder and inventor Serhat Gumrukcu was engaged in a variety of frauds; (2) Gumrukcu was not a licensed doctor anywhere in the world; (4) as a result of the foregoing, Gumrukcu’s purported contributions to the Company lacked a reasonable basis; (5) as a result of the foregoing, the Company had overstated its commercial prospects; (6) Gumrukcu had improperly diverted approximately $20 million from ENOB to entities he owned; and (7) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Shareholders have until September 26, 2022 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.