An investigation on behalf of investors of Applied DNA Sciences Inc (NASDAQ:APDN) shares over potential securities laws violations by Stony Brook, NY based Applied DNA Sciences in connection certain financial statements was announced.
Investors who purchased shares of Applied DNA Sciences Inc (NASDAQ:APDN), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Applied DNA Sciences Inc (NASDAQ:APDN) concerning whether a series of statements by Applied DNA Sciences regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On October 29, 2015, a report was published alleging that Applied DNA Sciences Inc “has spent 6.6x more on insider compensation than R&D” and “is now facing imminent insolvency.” The report also accuses Applied DNA Sciences Inc of engaging in fraudulent accounting practices involving a “Valeant-esque” relationship with a “questionably opaque” UK company called Patronus Systems Ltd.
Shares of Applied DNA Sciences Inc (NASDAQ:APDN) dropped on October 29, 2015 to as low as $2.74 per share.
On November 13, 2015, NASDAQ:APDN shares closed at $3.99 per share.
Those who purchased shares of Applied DNA Sciences Inc (NASDAQ:APDN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com