NEW YORK, June 27, 2022 /PRNewswire/ —
WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Enochian Biosciences, Inc. (NASDAQ: ENOB) resulting from allegations that Enochian BioSciences may have issued materially misleading business information to the investing public.
SO WHAT: If you purchased Enochian BioSciences securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.
WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=6517 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.
WHAT IS THIS ABOUT: On May 25, 2022, during trading hours, the U.S. Department of Justice (DOJ) announced that Serhat Gumrukçu, the inventor and co-founder of Enochian BioSciences, had been arrested and charged in a murder-for-hire conspiracy.
On this news, Enochian BioSciences’s stock fell $2.17, or 37%, to close at $3.70 per share on May 25, 2022, on unusually heavy trading volume, damaging investors
Then, on June 1, 2022, market analyst Hindenburg Research published a report regarding Enochian BioSciences which is entitled “Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies[.]” The report noted that the individual in whose murder Gumrukçu was implicated, Gregory Davis, “was murdered … just 19 days before Gumrukcu was scheduled to appear in court to defend himself against felony fraud allegations related to a 2016 deal with Davis” and that “[f]ederal prosecutors argued that the prospective merger deal that eventually resulted in Enochian going public served as a key motive for the murder.” The report also stated that “[u]nbeknownst to investors (but known to Enochian’s senior leadership) Gumrukcu’s latest arrest for a murder conspiracy is simply the most recent in a string of alleged crimes by Gumrukcu,” who “was arrested based on accusations of falsely posing as a doctor” in his native Turkey in 2012 and “[i]n February 2017, Gumrukcu was arrested by authorities after the State of California accused him of a slew of white-collar crimes, including fraud, identity theft, and check kiting – a total of 14 felonies.” The report further states that “[w]e have been unable to find any jurisdiction in which Gumrukcu is licensed as a medical doctor” and that “Gumrukcu looks to have purchased a fake Russian medical degree on the black market[.]”
On this news, Enochian’s stock fell $1.49, or 28% to close at $3.76 per share on June 1, 2022, damaging investors.
WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.
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Contact Information:
Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com
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