NEW YORK, July 29, 2022 (GLOBE NEWSWIRE) — The law firm of Kirby McInerney LLP announces that a class action lawsuit has been filed on behalf of those who acquired Enochian Biosciences, Inc. in the United States District Court for the Central District of California. (“Enochian”) ENOB Securities from January 17, 2018 through June 27, 2022, both dates inclusive (the “Collection Period”), including common shares issued by Enochian in a private placement on or about February 16, 2018. Investors have until September 26, 2022 to apply to the court to appoint a lead plaintiff in the lawsuit.

Enochian is a biopharmaceutical company focused on identifying, developing, manufacturing and commercializing genetically modified cell therapies.

On May 25, 2022, the US Department of Justice announced that Serhat Gumrukcu, the inventor and co-founder of Enochian, had been arrested and charged with conspiracy to murder. As a result of this news, the price of Enochian shares fell $2.17 per share, or approximately 36.9%, from $5.87 per share to a closing price of $3.70 on May 25, 2022.

On June 1, 2022, Hindenburg Research released a research report alleging, among other things, that the charges related to the murder of Gregory Davis, just days before Gumrukcu was due to defend himself against allegations of fraud related to a deal with Davis. According to the message, “[f]Federal prosecutors argued that the prospective merger deal that eventually resulted in Enochian going public was a prime motive for the murder.” As a result of this news, the price of Enochian shares fell $1.49 per share, or approximately $28.4 % of $5.26 per share to close at $3.77 on June 1, 2022.

on June 27, 2022, The Wall Street Journal published an article detailing Gumrukcu’s involvement in Davis’ murder, alleging that Gumrukcu wrote $600,000 in fraudulent checks in an oil deal with Davis and owed Davis more than $900,000 in late fees and penalties. Davis had threatened to expose Gumrukcu’s fraud…