February 11, 2014 (Shareholders Foundation) - An investigation on behalf of investors of NanoViricides Inc (NYSEMKT:NNVC) shares over potential securities laws violations by NanoViricides and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of NanoViricides Inc (NYSEMKT:NNVC) concerning whether a series of statements by NanoViricides regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

NanoViricides Inc reported that its Net Loss increased from $4.74 million for the 12 months period that ended on June 30, 2010 to $8.88 million for the 12 months period that ended on June 30, 2013.

Shares of NanoViricides Inc (NYSEMKT:NNVC0 grew from $1.21 per share in late August 2013 to as high as $6.05 per share in January 2014.

Then on Februrary 11, 2014, a report was published by a short seller alleging that NanoViricides Inc is a house of cards with 80% downside, questioning the integrity of the Company's financials. The same dat NanoViricides Inc responded to the article and said the article is baseless and inaccurate.

Shares of NanoViricides Inc declind from $4.55 per share on February 10, 2014 to $2.71 per share on February 11, 2014.