Stockholders v Immunosyn Corporation
Stockholders File Lawsuit Against Immunosyn Corporation
Immunosyn Corporation (Immunosyn) is a development stage company. The Company owns a worldwide license to market, distribute and sell a biopharmaceutical drug product, referred to as SF-1019, for multiple uses, including the treatment of any and all diseases, and pathological conditions. Under the terms of its license, the Company is further granted the rights to any improvement of SF-1019 and other compounds, which are developed under the same technology platform, and which are chemically similar to SF-1019.
According to the complaint filed August 24, 2009, the Defendants are in violation of 15 U.S.C. 78r and/or 17 C.F.R. 240.10b-5 by making false and/or misleading statements concerning Immunyson and SF-1019 in SEC filings, including but not limited to: a) failing to report income generated from the sale of SF-1019, b) claiming in al O-QSB for the period ending 9/30/07 that Immunyson had the "exclusive worldwide license to market, distribute and sell . . . SF-1019," c) failing to timely report in its SEC filings a lawsuit brought by Salvatore and Frank Bramante against Immunyson, d) claiming that Argyll Biotech's only data regarding the safety and efficacy of SF-1019 is based on uncontrolled observations of a precursor to SF-1019 among a small group of individuals, not SF-1019 itself, e) failing to disclose that SF-1019 was on clinical hold, d) misrepresenting the approvals obtained for SF-1019, 0 failing to disclose that SF-1019 was being sold through channels outside of Immunyson, g) failing to disclose the business relationship between Alan Osmond and Immunyson and/or Argyll Biotech, and h) selling a water/saline solution/and/or product without active agents as SF-1019.
If you bought Immunosyn Corporation securities and would like to obtain information about the Immunosyn Corporation lawsuit, then you are invited to call Kahn Swick & Foti, LLC toll free at (866) 467-1400 extension 100 to speak with an attorney or visit www.ksfcounsel.com.
