Hagens Berman Alerts Intrexon Corporation (NYSE: XON) Investors to Improper Revenue Recognition Securities Class Action and J...

Hagens Berman Sobol Shapiro LLP, a national investor-rights law firm, alerts Intrexon Corporation (NYSE:XON) investors to the newly filed improper revenue recognition class action lawsuit and the July 5, 2016 lead plaintiff deadline.  The litigation concerns research reports concluding that Intrexon improperly inflated reported revenues.

If you suffered significant losses because of your purchases of Intrexon between May 12, 2015 and April 20, 2016 or have information that will help our investigation contact Hagens Berman Partner Reed Kathrein, who is leading the firm’s investigation by calling 510-725-3000, emailing [e-mail] or visiting https://www.hbsslaw.com/cases/XON.  The lawsuit was filed in the U.S. District Court for the Northern District of California and investors have until July 5, 2016 to move the court to participate as a lead plaintiff.

On April 21, 2016, Seeking Alpha published Part 1 of a Spotlight Research report stating Intrexon overstated revenues by 50% because it improperly recorded revenues in transactions with related parties.  In response, Intrexon’s stock price fell approximately 26% from its previous closing price to close at $27.10 per share on April 21, 2016.

Then, on April 27, 2016, Seeking Alpha published Parts 2 - 8 of the report stating “[i]n reality, we believe that XON is creating revenues through round-tripping their own cash via related parties.”

“We’re focused on Intrexon’s revenue recognition from its collaborative arrangements, the apparent GAAP violations, the damage to investors, and whether the Company will restate its financial statements,” said Hagens Berman partner Reed Kathrein.

Whistleblowers: Persons with non-public information regarding Intrexon should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new SEC whistleblower program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email [e-mail].

About Hagens Berman Hagens Berman is headquartered in Seattle, Washington with offices in 10 cities. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the Firm and its successes can be found at www.hbsslaw.com. Read the Firm’s Securities Newsletter, and visit the blog. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.

Contact:
Reed Kathrein, 510-725-3000