An investigation for investors in Intrexon Corp (NYSE: XON) shares over potential securities laws violations by Intrexon was announced.
San Diego, CA -- (SBWIRE) -- 09/24/2018 -- An investigation was announced over potential securities laws violations by Intrexon Corp in connection with certain financial statements.
Investors who purchased shares of Intrexon Corp (NYSE: XON), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Intrexon Corp (NYSE: XON) concerning whether a series of statements by Intrexon regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Germantown, MD based Intrexon Corporation operates in the synthetic biology field in the United States.I ntrexon Corp reported that its annual Total Revenue rose from$173.60 million in 2015 to $190.92 million in 2016 to while its Net Loss increased from $84.49 million in 2015 to $186.61 million in 2016.
On August 9, 2018, Intrexon Corporation filed an 8-K announcing 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. The restatement is 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..."
Then on August 13, 2018, Intrexon Corporation filed an amended and restated 10-Q for the quarter ended March 31, 2018.
Shares of Intrexon Corp (NYSE:XON) closed on September 17, 2018, at $13.97 per share.
Those who purchased shares of Intrexon Corp (NYSE: XON) have certain options and should contact the Shareholders Foundation.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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