NEW YORK, Oct. 29, 2018 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. is investigating potential claims against Intrexon Corporation (NASDAQ: XON). Our investigation concerns whether Intrexon has violated the federal securities laws and/or engaged in other unlawful business practices.
On August 9, 2018, Intrexon announced 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. Intrexon advised investors that the restatement was 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.”
On this news, Intrexon’s share price fell over 2%, closing at $15.05 per share on August 10, 2018. On August 13, 2018, Intrexon filed an amended and restated 10-Q for the quarter ended March 31, 2018. On this news, Intrexon’s share price fell over 6%, to close at $14.10 per share on August 13, 2018.
If you purchased or otherwise acquired Intrexon shares and suffered a loss, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning our investigation into Intrexon please go to http://www.bespc.com/xon/. For additional information about Bragar Eagel & Squire, P.C., please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com