Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of persons and entities that purchased or otherwise acquired Enochian Biosciences, Inc. securities between January 17, 2018 and June 27, 2022, inclusive (the “Class Period”), including common stock issued by Enochian in a private placement offering on or about February 16, 2018.
All investors who purchased the shares of Enochian Biosciences, Inc. and incurred losses are advised to contact the firm immediately at email@example.com or (800) 575-0735 or (212) 545-4774. You may obtain request additional information concerning the action at www.whafh.com.
If you have incurred losses in Enochian Biosciences, Inc. you may, no later than September 26, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Enochian Biosciences, Inc.
On May 25, 2022, the United States Department of Justice (“DOJ”) announced that Serhat Gumrukcu, the co-founder and inventor of Enochian, had been arrested in a murder-for-hire conspiracy. The Company’s shares fell $2.17, or 37%, to close that day at $3.70 per share.
Subsequently, on June 1, 2022, Hindenburg Research published a research report alleging, among other things, that the charge related to the murder of Gregory Davis, just days before Gumrukcu was to defend himself against felony fraud allegations related to a deal with Davis. According to the report, “[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 alleged that Gumrukcu is not a licensed doctor in any jurisdiction in the world, that he had pled guilty to felony charges in the midst of the Company’s merger, and that he “had siphoned tens of millions of dollars in shareholder cash from Enochian to his privately-owned entities.” Additionally, Hindenburg alleged that Enochian has been aware of the foregoing allegations. On this news, the Company’s shares fell $1.495, or 28.4%, to close at $3.77.
On June 27, 2022, The Wall Street Journal published an article concerning Gumrukcu’s participation in the murder-for-hire conspiracy, claiming that Gumrukcu owed Davis over $900,000 after Gumrukcu coaxed Davis into entering into a fraudulent oil deal with him. The article further alleged that FBI agents were suspicious that Gumrukcu “had fabricated his resume and held neither a medical degree nor a doctoral degree.” On this news, the Company’s shares fell $0.73, or 21.9%, to close at $2.60 per share.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at firstname.lastname@example.org
Wolf Haldenstein Adler Freeman & Herz LLP
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