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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against PixarBio Corporation (PXRB)

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NEW YORK, Jan. 25, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against PixarBio Corporation ("PixarBio" or the "Company") (OTC: PXRB) in the United States District Court for the District of New Jersey on behalf of purchasers of PixarBio (1) pursuant and/or traceable to PixarBio's private placement that closed on October 30, 2016; and/or (2) publicly traded on the open market from October 31, 2016 through January 20, 2017, both dates inclusive (the "Class Period"). The lawsuit seeks to recover damages for PixarBio investors under the federal securities laws.

According to the Complaint, Defendants made false and/or misleading statements and/or failed to disclose that: (1) the market for the Company's securities exhibited manipulative or deceptive activities; (2) the Company's assertions in press releases, third-party promotional materials, and PixarBio's Form S-1 concerning, among other things, PixarBio's business combinations and current shareholders; the identity and qualifications of key shareholders and employees and PixarBio's current and prospective development efforts lacked veracity; and (3) as a result, Defendants' public statements were materially false and misleading at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

If you wish to serve as lead plaintiff, you must move the Court no later than March 27, 2017.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

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