Notice to Enochian Biosciences Inc. Shareholders: Robbins LLP

SAN DIEGO, Aug. 12, 2022 (GLOBE NEWSWIRE) —

The class: Shareholder rights law firm Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all persons or entities who have purchased or otherwise acquired securities of Enochian Biosciences Inc. (NASDAQ : ENOB) between September 24, 2020 and May 31, 2022, for violations of the Securities Exchange Act of 1934. Enochian is a preclinical-stage biotechnology company that purportedly researches and develops pharmaceuticals and biologics for the human treatment of the virus of human immunodeficiency, hepatitis B virus, influenza and coronavirus infections and cancer.

If you want more information about the misconduct of Enochian Biosciences Inc., click here.

What this case is about: Enochian Biosciences Inc. (ENOB) has overstated its business outlook for the company’s product pipeline

According to the complaint, Enochian and its senior management recognized Dr. Serhat Gumrukcu, Enochian’s co-founder and major shareholder, as a “genius” and “inventor” of the technology and science behind Enochian’s product pipeline. the society. However, the defendants did not disclose to shareholders that Gumrukcu had no verifiable credentials beyond high school and therefore the scientific and technological underpinnings of Enochian’s pipeline of products allegedly invented by Gumrukcu were questionable at best. . As such, the defendants have significantly overestimated the commercial prospects of the Company’s product portfolio. Additionally, Gumrukcu had a criminal history, including fraud, of which Enochian’s upper management was aware.

On May 25, 2022, the United States Department of Justice announced that Gumrukcu had been arrested and charged in a murder-for-hire conspiracy. On this news, Enochian’s stock price fell nearly 37%, to close at $3.70 per share on May 25, 2022. Then, on June 1, 2022, Hindenburg Research released a report on Enochian highlighting the murder-for-hire plot, as well as Gumrukcu’s other crimes. Specifically, Gumrukcu “was arrested on charges of impersonating a doctor” in Turkey in 2012, and “[i]In February 2017, Gumrukcu was arrested by authorities after the state of California charged him with a series of white-collar crimes, including fraud, identity theft and check theft – a total of 14 felonies. 28.42%, to close at $3.765 per share on June 1, 2022.

Next steps: If you acquired shares of Enochian Biosciences Inc. between September 24, 2020 and May 31, 2022, you have until September 26, 2022, to ask the court to name you as lead plaintiff in the class. A lead plaintiff is a representative party acting on behalf of other class members to direct litigation. You don’t have to be in the case to be eligible for a clawback.

All representation is done on a contingent fee basis. Shareholders do not pay any fees or expenses.

Contact us for more information:

Aaron Dumas
(800) 350-6003
[email protected]
Shareholder Information Form

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP are dedicated to helping shareholders recoup losses, improving corporate governance structures and holding corporate executives responsible for their wrongdoings since 2002. To be notified if a class action lawsuit against Enochian Biosciences Inc. settles or to receive free alerts when corporate executives commit wrongdoing, sign up for Watch Inventory today.

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