investors can Contact the law firm for free to learn more about recovering their losses
LOS ANGELES, Sept. 7, 2022 (GLOBE NEWSWIRE) — The law firm of Portnoy advises Enochian Biosciences, Inc. (“Enochian” or the “Company”) ENOB Investors who have filed a class action lawsuit on behalf of investors who purchased Enochian Shares between January 17, 2018 and June 27, 2022 inclusive (the “Class Period”).
Portnoy Law Firm can provide a free case assessment and discuss investors’ options for making claims to recover their losses.
On May 25, 2022, the US Department of Justice announced that Serhat Gumrukcu, the co-founder and inventor of Enochian, had been arrested as part of a murder conspiracy.
As a result of this news, the company’s shares fell $2.17, or 37%, on unusually high trading volume to close at $3.70 per share on May 25, 2022.
On June 1, 2022, Hindenburg Research released a research report alleging, among other things, that the charges related to the murder of Gregory Davis, just days before Gumrukcu was due to defend himself against allegations of fraud related to a deal with Davis. According to the message, “[f]Federal prosecutors argued that the prospective merger deal that eventually resulted in Enochian going public was a prime motive for the murder.” The report also claimed that Gumrukcu, not a licensed physician in any jurisdiction in the world, was guilty of a crime disclosed charges in the midst of the company’s merger and that he “diverted tens of millions of dollars in shareholder funds from Enochian to his private companies.” In addition, Hindenburg claimed that Enochian was aware of the foregoing allegations.
As a result of this news, the company’s shares fell $1.495 or 28.4% on unusually high trading volume to close at $3.77 on June 1, 2022.
On June 27, 2022, The Wall Street Journal ran an article detailing Gumrukcu’s involvement in the hit-and-run conspiracy, claiming that Gumrukcu owed Davis over $900,000 after Gumrukcu persuaded…
