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The Gross Law Firm Announces Class Actions on Behalf of Shareholders of IQ, SRNE and CLNY

NEW YORK, NY / ACCESSWIRE / June 4, 2020 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

iQIYI, Inc. (NASDAQ:IQ)

The IQ lawsuit is on behalf of persons and entities other than Defendants that purchased or otherwise acquired: (a) iQIYI American Depository Shares pursuant and/or traceable to the Company's initial public offering conducted on or about March 29, 2018; or (b) iQIYI securities between March 29, 2018, and April 7, 2020.

A class action has commenced on behalf of certain shareholders in iQIYI, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (1) iQIYI inflated its revenue figures; (2) iQIYI inflated its user numbers; (3) iQIYI inflated its expenses to cover up other fraud; and (4) as a result, Defendants' public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/iqiyi-inc-loss-submission-form/?id=7152&from=1

Sorrento Therapeutics, Inc. (NASDAQ:SRNE)

Investors Affected : May 15, 2020 - May 20, 2020

A class action has commenced on behalf of certain shareholders in Sorrento Therapeutics, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the Company's initial finding of "100% inhibition" in an in vitro virus infection will not necessarily translate to 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/or lacked a reasonable basis.

Shareholders may find more information at https://securitiesclasslaw.com/securities/sorrento-therapeutics-inc-loss-submission-form/?id=7152&from=1

Colony Capital, Inc. (NYSE:CLNY)

Investors Affected : August 9, 2019 - May 7, 2020

A class action has commenced on behalf of certain shareholders in Colony Capital, Inc. The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) Colony's sale of its industrial real estate portfolio and the bifurcation of Colony Credit Real Estate's portfolio were foreseeably likely to negatively impact Colony's financial and operating results; (ii) certain of Colony's remaining portfolio companies carried unsustainable levels of debt secured by hotels and healthcare-related properties and were thus at a significant risk of default; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

Shareholders may find more information at https://securitiesclasslaw.com/securities/colony-capital-inc-loss-submission-form/?id=7152&from=1

The Gross Law Firm is committed to ensuring that companies adhere to responsible business practices and engage in good corporate citizenship. The firm seeks recovery on behalf of investors who incurred losses when false and/or misleading statements or the omission of material information by a Company lead to artificial inflation of the Company's stock. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
The Gross Law Firm
15 West 38th Street, 12th floor
New York, NY, 10018
Email: dg@securitiesclasslaw.com
Phone: (212) 537-9430
Fax: (833) 862-7770

SOURCE: The Gross Law Firm



View source version on accesswire.com:
https://www.accesswire.com/592800/The-Gross-Law-Firm-Announces-Class-Actions-on-Behalf-of-Shareholders-of-IQ-SRNE-and-CLNY

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