This case was last updated from U.S. District Courts on 07/28/2022 at 08:33:51 (UTC).

Albert Chow v. Enochian Biosciences Inc. et al

Case Summary

On July 26, 2022, Albert Chow (“Plaintiff”), represented by Jennifer Pafiti of Pomerantz LLP and Lesley F. Portnoy of the Portnoy Law Firm, filed a class-action lawsuit against Enochian, Mark Dybul (“Dybul”), Luisa Puche (“Puche”), Renè Sindlev (“Sindlev”), Carol L. Brosgart (“Brosgart”), Gregg Alton (“Alton”), James Sapirstein (“Sapirstein”), Carl Sandler (“Sandler”), Henrik Grønfeldt-Sørensen (“Grønfeldt-Sørensen”), Jayne McNicol (“McNicol”), Evelyn D’An (“D’An”), (collectively, “Defendants”), seeking damages for alleged violations of the Securities Exchange Act (“Exchange Act”). This case was filed in the U.S. District Court for the Central District of California, with Judges Dolly M. Gee and Alexander F. MacKinnon presiding.

Plaintiff brings this action as a class action pursuant to Federal Rule of Civil Procedure 23(a) and (b)(3). In the complaint, Plaintiff stated, “This is a federal securities class action on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Enochian securities between September 24, 2020 and May 31, 2022, both dates inclusive (the ‘Class Period’).”

Plaintiff further stated, “Enochian is a pre-clinical stage biotechnology company that purportedly researches and develops pharmaceutical and biological products for the human treatment of human immunodeficiency virus (‘HIV’), hepatitis B virus (‘HBV’), influenza and coronavirus infections, and cancer.”

Plaintiff alleged, “Defendants made materially false and misleading statements regarding the Company’s business, operations, and compliance policies like Gumrukcu was not a licensed doctor and had no verifiable degrees beyond high school, accordingly, the scientific and technological underpinnings of Enochian’s product pipeline, purportedly invented by Gumrukcu, were dubious at best, accordingly, the Defendants had significantly overstated the commercial prospects for the Company’s product pipeline.”

Plaintiff further alleged, “On May 25, 2022, the U.S. Department of Justice (‘DOJ’) announced that Gumrukcu had been arrested and charged in a murder-for-hire conspiracy. On this news, Enochian’s stock price fell $2.17 per share, or 36.97%, to close at $3.70 per share on May 25, 2022.”

Plaintiff also alleged, “Then, on June 1, 2022, Hindenburg Research (‘Hindenburg’) published a report on Enochian entitled ‘Miracle Cures and Murder For Hire: How A Spoon-Bending Turkish Magician Built A $600 Million Nasdaq-Listed Scam Based On A Lifetime Of Lies’ (the ‘Hindenburg Report’). Gumrukcu was arrested by authorities after the State of California accused him of a slew of white-collar crimes, including fraud, identity theft, and check kiting – a total of 14 felonies.”

Plaintiff then alleged, “On this news, Enochian’s stock price fell $1.495 per share, or 28.42%, to close at $3.765 per share on June 1, 2022. As a result of Defendants’ wrongful acts and omissions, and the precipitous decline in the market value of the Company’s securities, Plaintiff and other Class members have suffered significant losses and damages.”

Plaintiff listed two claims for relief, including claims for the alleged violation of Section 10 (b), 20 (a), and Rule 10b – 5 of the Exchange Act. In the prayer for relief, Plaintiff requested a judgment seeking certification of the class. Plaintiff also requested an award seeking damages, with pre-judgment and post-judgment interest and litigation costs. 

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Case Details Parties Documents Dockets

 

Case Details

  • Case Number:

    8:22-CV-01374

  • Filing Date:

    07/26/2022

  • Case Status:

    Pending - Other Pending

  • Case Type:

    Finance - Security/Commodity/Exchange

Judge Details

Presiding Judges

Dolly M. Gee

John W. Holcomb

Referral Judges

Alexander F. MacKinnon

John D. Early

 

Party Details

Plaintiff

Albert Chow

Defendants

Enochian Biosciences Inc.

Mark Dybul

Luisa Puche

Rene Sindlev

Carol L. Brosgart

Gregg Alton

James Sapirstein

Carl Sandler

Henrik Gronfeldt Sorensen

Jayne McNicol

Evelyn DAn

Attorney/Law Firm Details

Plaintiff Attorneys

Jennifer Pafiti

Attorney at Pomerantz LLP

1100 Glendon Avenue, 15Th Floor

Los Angeles, CA 90024

Lesley F. Portnoy

Attorney at Portnoy Law Firm

1800 Century Park East Suite 600

Los Angeles, CA 90067

 

Court Documents

1 #1

Main Document

1 #1

Exhibit Certification

1 #2

Exhibit Schedule A

#2

(#2) CIVIL COVER SHEET filed by Plaintiff Albert Chow. (Pafiti, Jennifer) (Entered: 07/26/2022)

#3

(#3) CERTIFICATE of Interested Parties filed by Plaintiff Albert Chow, (Pafiti, Jennifer) (Entered: 07/26/2022)

#4

(#4) Request for Clerk to Issue Summons on Complaint (Attorney Civil Case Opening) #1 filed by Plaintiff Albert Chow. (Pafiti, Jennifer) (Entered: 07/26/2022)

#5

(#5) NOTICE RE INTRA-DISTRICT TRANSFER by Clerk of Court due to incorrect intra-district venue selected by the filer. Case is transferred to the Southern Division. Case has been assigned to Judge Dolly M. Gee for all further proceedings. Any matters that may be referred to a Magistrate Judge are assigned to Alexander F. MacKinnon. New Case Number 8:22-cv-01374 DMG (AFMx). (sh) (Entered: 07/26/2022)

#6

(#6) NOTICE OF ASSIGNMENT to District Judge Dolly M. Gee and Magistrate Judge Alexander F. MacKinnon. (sh) (Entered: 07/26/2022)

#7

(#7) NOTICE TO PARTIES OF COURT-DIRECTED ADR PROGRAM filed. (sh) (Entered: 07/26/2022)

#8

(#8) Notice to Counsel Re Consent to Proceed Before a United States Magistrate Judge. (sh) (Entered: 07/26/2022)

#9

(#9) 21 DAY Summons Issued re Complaint (Attorney Civil Case Opening) #1 as to Defendants Gregg Alton, Carol L. Brosgart, Evelyn DAn, Mark Dybul, Enochian Biosciences Inc., Henrik Gronfeldt Sorensen, Jayne McNicol, Luisa Puche, Carl Sandler, James Sapirstein, Rene Sindlev. (sh) (Entered: 07/26/2022)

#10

(#10) INITIAL STANDING ORDER upon filing of the complaint by Judge Dolly M. Gee. (kti) (Entered: 07/27/2022)

#11

(#11) NOTICE OF CLERICAL ERROR: Due to clerical error the Case has been reassigned from Judge Dolly M. Gee and Magistrate Judge Alexander F. MacKinnon to Judge John W. Holcomb and Magistrate Judge John D. Early for all further proceedings. The case will now reflect the initials of the transferee Judge 8:22-cv-01374-DMG (AFMx). (et) (Entered: 07/27/2022)

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Docket Entries

  • 07/27/2022
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  • Docket(#11) NOTICE OF CLERICAL ERROR: Due to clerical error the Case has been reassigned from Judge Dolly M. Gee and Magistrate Judge Alexander F. MacKinnon to Judge John W. Holcomb and Magistrate Judge John D. Early for all further proceedings. The case will now reflect the initials of the transferee Judge 8:22-cv-01374-DMG (AFMx). (et) (Entered: 07/27/2022)

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  • 07/27/2022
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  • Docket(#10) INITIAL STANDING ORDER upon filing of the complaint by Judge Dolly M. Gee. (kti) (Entered: 07/27/2022)

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  • 07/26/2022
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  • Docket(#9) 21 DAY Summons Issued re Complaint (Attorney Civil Case Opening) #1 as to Defendants Gregg Alton, Carol L. Brosgart, Evelyn DAn, Mark Dybul, Enochian Biosciences Inc., Henrik Gronfeldt Sorensen, Jayne McNicol, Luisa Puche, Carl Sandler, James Sapirstein, Rene Sindlev. (sh) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#8) Notice to Counsel Re Consent to Proceed Before a United States Magistrate Judge. (sh) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#7) NOTICE TO PARTIES OF COURT-DIRECTED ADR PROGRAM filed. (sh) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#6) NOTICE OF ASSIGNMENT to District Judge Dolly M. Gee and Magistrate Judge Alexander F. MacKinnon. (sh) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#5) NOTICE RE INTRA-DISTRICT TRANSFER by Clerk of Court due to incorrect intra-district venue selected by the filer. Case is transferred to the Southern Division. Case has been assigned to Judge Dolly M. Gee for all further proceedings. Any matters that may be referred to a Magistrate Judge are assigned to Alexander F. MacKinnon. New Case Number 8:22-cv-01374 DMG (AFMx). (sh) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#4) Request for Clerk to Issue Summons on Complaint (Attorney Civil Case Opening) #1 filed by Plaintiff Albert Chow. (Pafiti, Jennifer) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#3) CERTIFICATE of Interested Parties filed by Plaintiff Albert Chow, (Pafiti, Jennifer) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#2) CIVIL COVER SHEET filed by Plaintiff Albert Chow. (Pafiti, Jennifer) (Entered: 07/26/2022)

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  • 07/26/2022
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  • Docket(#1) COMPLAINT Receipt No: ACACDC-33694683 - Fee: $402, filed by Plaintiff Albert Chow. (Attachments: #1 Exhibit Certification, #2 Exhibit Schedule A) (Attorney Jennifer Pafiti added to party Albert Chow(pty:pla))(Pafiti, Jennifer) (Entered: 07/26/2022)

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