The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action …
LOS ANGELES, Dec. 02, 2020 (GLOBE NEWSWIRE) — The Law Offices of Frank R. Cruz reminds investors of the upcoming December 4, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Precigen, Inc. (“Precigen” or the “Company”) f/k/a Intrexon Corporation (“Intrexon”) (NASDAQ: PGEN, XON) securities between May 10, 2017 and September 25, 2020, inclusive (the “Class Period”).
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On September 25, 2020, the U.S. Securities and Exchange Commission (“SEC”) announced a $2.6 million civil penalty against the Company related to its statements about the “purported success converting relatively inexpensive natural gas into more expensive industrial chemicals using a proprietary methane bioconversion (‘MBC’) program.” In its cease-and-desist order, the SEC noted that “Intrexon was primarily using significantly more expensive pure methane for the relevant laboratory experiments but was