SAN DIEGO, May 29, 2020 /PRNewswire/ -- Shareholder rights law firm Johnson Fistel, LLP announces that a class action lawsuit has been filed on behalf of all those who purchased or otherwise, acquired Sorrento Therapeutics, Inc. ("Sorrento" or the "Company") (NASDAQ: SRNE) between May 15, 2020 and May 22, 2020, inclusive (the "Class Period"). 

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired Sorrento securities during the Class Period to seek appointment as lead plaintiff.  A lead plaintiff acts on behalf of all other class members in directing the litigation.  The lead plaintiff can select a law firm of its choice.  An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.  If you wish to serve as lead plaintiff, you must move the Court no later July 27, 2020.  If you want to discuss this action or have any questions concerning this notice, please contact Jim Baker ([email protected]) at 619-814-4471.  If emailing, please include a phone number. 

According to the Complaint, the Company made false and misleading statements to the market. It failed to disclose: (i) the Company's initial finding of "100% inhibition" in an in vitro virus infection will not necessarily translate to success or safety in vivo, or in person; (ii) the Company's finding was not a "cure" for COVID-19; and (ii) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and lacked a reasonable basis.

Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Sorrento securities during the Class Period. 

If your losses are more than $100,000 and you are interested in your rights and options, or if you are interested in seeking to be a lead plaintiff, please [click here to join this action]. There is no cost or obligation to you.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

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SOURCE Johnson Fistel, LLP