The investigation concerns whether Cocrystal and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On September 7, 2018, the U.S. Securities and Exchange Commission ("SEC") issued a press release entitled "SEC Charges Microcap Fraudsters for Roles in Lucrative Market Manipulation Schemes". The press release stated, in part, that the SEC had "charged a group of 10 individuals and 10 associated entities for their participation in long-running fraudulent schemes that generated over $27 million from unlawful stock sales and caused significant harm to retail investors who were left holding virtually worthless stock." The press release named three controlling shareholders of Cocrystal's corporate predecessor BioZone—Barry C. Honig, Michael Brauser, and Phillip Frost—as defendants.
Following this announcement, Cocrystal's stock price fell $0.58 per share, or over 15.5%, over the next two trading sessions to close at $3.16 on September 11, 2018.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:Robert S. WilloughbyPomerantz [email protected]888-476-6529 ext. 9980
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SOURCE Pomerantz LLP
