Cellenkos

Nov 18, 2023

New York, New York, UNITED STATES NEW YORK, Nov. 18, 2023 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Global Cord Blood Corporation (OTC: CORBF) resulting from allegations that Global Cord may have issued materially misleading business information to the investing public. SO WHAT: If you purchased Global Cord securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses. WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=20009 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. WHAT IS THIS ABOUT: On April 29, 2022, after market hours, Global Cord issued a press release entitled “Global Cord Blood Corporation Announces Entry into Cell Therapy Market by Acquiring Cellenkos and Its Products Rights” which discussed Global Cord’s planned acquisition of Cellenkos, Inc (“CLNK”) (a biotechnology research and development company which utilizes umbilical cord blood (“CB”) as the raw material to develop innovative, allogeneic, off-the-shelf, cell based therapeutic products and which has agreements with The University of Texas MD Anderson Cancer Center). On this news, Global Cord’s stock price fell $0.98 per share, or 28%, to close at $2.45 per share on May 2, 2022, the next trading day. On May 9, 2022, during market hours, Global Cord announced a major investor in many of Global Cord’s Chinese subsidiaries, Blue Ocean Structure Investment Company Limited (“BVI”), “filed in the Grand Court of the Cayman Islands a notice of petition to wind up in respect of the issuer (the ‘Notice of Petition’). Among other things, the Notice of Petition primarily seeks an order that: (1) the issuer refrain from proceeding with a proposed transaction by which the issuer would acquire Cellenkos, Inc., as described in a Form 6-K filed by the Issuer on April 29, 2022 (the ‘Cellenkos Transaction’); (2) the issuer amend and restate its Memorandum and Articles of Association to eliminate the classification of the Board and to add shareholder protective provisions; and (3) the issuer convene an extraordinary general meeting to propose the removal of the current Board and the appointment of alternative directors proposed by [BVI].” On this news, Global Cord’s stock price fell $0.22 per share, or 8%, to close at $2.41 per share on May 9, 2022. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers. Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm , on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/ . Attorney Advertising. Prior results do not guarantee a similar outcome. Contact Information: