SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation of Intrexon Corporation (XON)
NEW YORK, Sept. 17, 2018 /PRNewswire/ -- Attorney Advertising-- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Intrexon Corporation ("Intrexon" or the "Company") (NYSE: XON). Such investors are encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/xon.
The investigation concerns whether Intrexon and certain of its officers and/or directors have violated federal securities laws.
On August 9, 2018, Intrexon announced that it would restate the unaudited interim consolidated financial statements included in the Company's Quarterly Report on Form 10-Q for the quarter ended March 31, 2018. Intrexon advised investors that the restatement was the result of incorrect application of certain aspects of Accounting Standards Codification Topic 606, Revenue from Contracts with Customers. According to the Company, "these errors have resulted in an overstatement of deferred revenue and accumulated deficit by approximately $67 million as of the adoption date." On this news, Intrexon's share price fell $0.34 per share, or 2.21%, to close at $15.05 per share on August 10, 2018. Then, on August 13, 2018, Intrexon filed an amended and restated 10-Q for the quarter ended March 31, 2018. On this news, Intrexon's share price fell $0.95 per share, or 6.31%, to close at $14.10 per share on August 13, 2018.
If you are aware of any facts relating to this investigation, or purchased Intrexon shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/xon. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE Bronstein, Gewirtz & Grossman, LLC
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