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If you are a current long-term stockholder of shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC), you have certain options and you should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this investigation, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Investigation Overview
August 27, 2013 (Shareholders Foundation) - An investigation on behalf of current long-term stockholders of shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) was announced concerning whether certain ImmunoCellular Therapeutics officers and directors possibly breached their fiduciary duties in connection with certain statements.
The investigation by a law firm concerns whether certain ImmunoCellular Therapeutics officers and directors breached their fiduciary duties in connection with their conduct in seeking shareholders approval for an amendment of the Companys 2006 Equity Incentive Plan.
In the Proxy Statement filed by ImmunoCellular Therapeutics with the Securities and Exchange Commission the Board of Directors recommends that ImmunoCellulars shareholders vote to approve an amendment to the Companys 2006 Equity Incentive Plan to increase the number of shares available for issuance thereunder from 8,000,000 to 12,000,000
According to the investigation the issuance of the additional shares could have a severe dilutive effect on the shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC).
ImmunoCellular Therapeutics Ltd reported that its annual Net loss increased from $5.72 million in 2011 to $14.50 million in 2012.
Shares of ImmunoCellular Therapeutics Ltd (NYSEMKT:IMUC) grew to $3.57 p[er share on August 6, 2013.
On August 27, 2013, NASDAQ:IMUC shares closed at $2.86 per share.
