Investor: Biotech Company Concealed Gene Therapy Treatment Shortcomings

(January 20, 2017, 11:54 AM EST) -- NEW YORK — A biotechnology company and certain of its executive officers concealed from investors that the science company’s gene replacement therapy drug was not viable and that the company’s principal executive officer previously worked for a biotech promoter that was subject to securities fraud violations in violation of federal securities laws, a shareholder argues in a Dec. 16 securities class action complaint filed in New York federal court (David Reilly v. Abeona Therapeutics Inc., f/k/a Plasmatech Biopharmaceuticals Inc., et al., No. 16-9730, S.D. N.Y.)....