San Francisco, California–(Newsfile Corp. – June 16, 2022) – Hagens Berman urges Enochian Biosciences, Inc. (NASDAQ: ENOB) investors with significant losses to submit your transactions now. The firm is investigating possible securities law violations.
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Enochian Biosciences, Inc. (ENOB) Investigation:
Specifically, the investigation focuses on Enochian’s repeated assurances that “[m]any of the techniques utilized in the development of our product candidates have been developed by Dr. Serhat Gumrukcu,” whom the company needs to retain to achieve its research, development, regulatory approvals and commercialization objectives.
Enochian’s claimed need for Gumrukcu and the utility of his “techniques” came into serious question beginning on May 25, 2022, when the U.S. Attorney for the District of Vermont announced Gumrukcu was arrested after having been charged by a federal grand jury with conspiring to use interstate commerce in the commission of murder-for-hire. According to the U.S. Attorney’s office, the murder of Gregory Davis was potentially motivated by Davis’ threat to inform the FBI that Gumrukcu and his brother were defrauding Davis in a multi-million-dollar oil deal.
Then, on June 1, 2022, Hindenburg Research published a scathing report entitled “Miracle Cures and Murder-For-Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies.” Among other things, Hindenburg observed that Gumrukcu has extensive criminal issues that have been known to Enochian’s board and executives for years and “this firewalking fraudster hasn’t developed cures for some of humanity’s most horrible diseases.” Hindenburg also revealed Gumrukcu fabricated his credentials, engaged in the unauthorized practice of medicine, published no peer-reviewed scientific research, and siphoned about $20 million from Enochian shareholders. Hindenburg also reported that a former company executive explained that he left the company after he concluded Gumrukcu lied about his work on Enochian’s HIV project and that Enochian’s “culture of secrecy” discouraged management from questioning “financial movements” and Gumrukcu’s credentials.
“We’re focused on investors’ losses and whether Enochian misrepresented Gumrukcu’s background, accomplishments, and its need for him to achieve any semblance of commercial success,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Enochian and suffered substantial losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Enochian should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new 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 844-916-0895 or email [email protected].
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Hagens Berman is a global plaintiffs’ rights complex litigation law firm focusing on corporate accountability through class-action law. The firm is home to a robust securities litigation practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and fraud. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.
Contact:
Reed Kathrein, 844-916-0895
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128051