LOS ANGELES–(BUSINESS WIRE)–Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, continues its investigation on behalf of Enochian Biosciences, Inc. (“Enochian” or the “Company”) (NASDAQ: ENOB) investors concerning the Company’s possible violations of the federal securities laws.
If you suffered a loss on your Enochian investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/enochian-biosciences-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at email@example.com to learn more about your rights.
On May 25, 2022, the U.S. Department of Justice announced that Serhat Gumrukcu, the inventor and co-founder of Enochian, had been arrested and charged in a murder-for-hire conspiracy.
On this news, Enochian’s stock fell $2.17, or 37%, to close at $3.70 per share on May 25, 2022, thereby injuring investors.
Then, 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.”
On this news, Enochian’s stock fell $1.49, or 28.4%, to close at $3.77 on June 1, 2022, thereby injuring investors further.
Then, on June 27, 2022, The Wall Street Journal published an article detailing Gumrukcu’s involvement in Davis’s murder, alleging that in an oil deal with Davis, Gumrukcu had written $600,000 worth of fraudulent checks and owed Davis more than $900,000 for late fees and penalties. Davis had threatened to expose Gumrukcu’s fraud, which also threatened an ongoing deal between Enochian and a drug developer that would yield “a fortune in future drug-licensing agreements.” The article also alleged that, during an investigation of Gumrukcu’s various schemes and fraudulent checks, an FBI agent began to suspect Gumrukcu of “claiming to be an American doctor who had a special cure for cancer and AIDS.” Enochian’s former chief executive also stated that he had begun to suspect that Gumrukcu “had fabricated his résumé and held neither a medical degree nor a doctoral degree.”
On this news, Enochian’s stock fell $0.73, or 21.9%, to close at $2.60 per share on June 27, 2022, thereby injuring investors further.
Whistleblower Notice: Persons with non-public information regarding Enochian should consider their options to aid the investigation or take advantage of the SEC Whistleblower Program. Under the program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Charles H. Linehan at 310-201-9150 or 888-773-9224 or email firstname.lastname@example.org.
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