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CellCyte | Company Ticker: CCYG
Date Filed: January 14, 2008
Court: U.S. District Court
Location: Seattle
Hagens Berman Sobol Shapiro filed a class-action lawsuit against CellCyte for alleged violations of securities laws. According to the complaint CellCyte executives and business partners misled investors by publishing false information about the history and experience of the company's chief executive officer Gary A. Reys.
The lawsuit alleges that company shares were traded at artificially inflated prices due to the company's activities.
Reys' education and professional credentials were called into question after published news reports called out alleged discrepancies relating to Reys' finance degree from the University of Washington, a CPA designation, ties to the Washington Society of Certified Public Accountants and a strong track record within the pharmaceutical industry. Soon after these reports company stock plummeted 55 percent.
If you are an investor in CellCyte and purchased stock between April 6, 2007 and January 9, 2008, please contact plaintiff's counsel at (206) 623-7292 for more information on this case.