SAN FRANCISCO, March 06, 2017 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in PixarBio Corporation (Other OTC:PXRB) of the March 27, 2017 Lead Plaintiff deadline in the pending securities class action.

If you purchased PXRB securities (1) pursuant to PixarBio’s private placement that closed on October 30, 2016 or (2) on the open market between October 30, 2016 and January 20, 2017 (the “Class Period”) and suffered over $25,000 in losses contact Hagens Berman Sobol Shapiro LLP.  For more information visit:

https://www.hbsslaw.com/cases/PXRB

or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing PXRB@hbsslaw.com.

On January 3, 2017, PixarBio CEO Frank Reynolds disclosed the Company’s intent to acquire InVivo Therapeutics Holdings Corp.  In response, InVivo stated it had never been involved in negotiations with PixarBio and rejected the offer.

Then, on January 23, 2017, the SEC froze trading of PixarBio shares and stated, “the market for the security appears to reflect manipulative or deceptive activities.”  Hagens Berman continues to investigate the SEC’s findings.

On February 8, 2017, the Company announced the resignation of Steven J. Chartier, its Chief Operating Officer and former VP of Regulatory Affairs.  Mr. Chartier had been PixarBio’s COO for less than 2 months.

“We’re focused on the SEC’s ultimate determination of the matters warranting the trading halt and the damage inflicted on investors,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding PixarBio should consider their options to help in the investigation or take advantage of the SEC Whistleblower program.  Under the new SEC whistleblower 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 Reed Kathrein at 510-725-3000 or email PXRB@hbsslaw.com.

About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with offices in 10 cities.  The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com.  For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.