NEW YORK, Jan. 6, 2022 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Regen BioPharma, Inc. (“Regen” or the “Company”) (OTCMKTS: RGBP). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether Regen and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On December 22, 2021, Regen disclosed in a filing with the U.S. Securities and Exchange Commission that on December 17, 2021, the Company’s Board of Directors “concluded that the previously issued Balance Sheet, Statement of Operations, Statement of Shareholders Equity ( Deficit) and Statement of Cash Flow for the quarter and nine months ended June 30, 2021 filed with the Company’s Form 10-Q for the quarter ended June 30, 2021 should not be relied upon.” Specifically, Regen advised that it had “determined that the recognition of $1,905,000 of revenue recognized during the quarter ended June 30, 2021 resulting from the grant of a license to an unrelated third party to develop and commercialize intellectual property controlled by the Company should be recognized over the term of the license which is 15 years.”
On this news, Regen’s stock price fell $0.0019 per share, or 13.01%, over the following two trading sessions, closing at $0.0146 per share on December 23, 2021.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com.
CONTACT: Robert S. WilloughbyPomerantz LLP [email protected] 888-476-6529 ext. 7980
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SOURCE Pomerantz LLP
