Robbins Arroyo LLP: Shareholder Lawsuit Says Cocrystal Pharma, Inc. (COCP) Misled Shareholders

Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Cocrystal Pharma, Inc. (formerly known as BioZone Pharmaceuticals, Inc.) (NasdaqCM: COCP) filed a shareholder lawsuit against the company's officers and directors for alleged breaches of fiduciary duties, unjust enrichment, waste of corporate assets, and violations of the Securities Exchange Act of 1934. Cocrystal is a clinical stage biotechnology company that develops novel antiviral therapeutics.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/cocrystal-pharma-jan-19/

Cocrystal Pharma Officials Accused of Engaging in Illegal Pump-and-Dump Scheme

According to the complaint, BioZone officials schemed to artificially inflate the company's stock price and sell their shares at a significant profit. To effectuate their scheme, they organized undisclosed stock promotions to increase the trading volume of the company's stock, causing its value to more than double despite a lack of change or improvement in the company. After reaping massive profits, they carried out another reverse merger through which BioZone became Cocrystal Pharma and solicited Cocrystal stockholder votes for director re-election, all while hiding the company's liability for the pump-and-dump scheme. As a result of the company's unlawful actions, Cocrystal will spend millions of dollars to defend itself against the claims of a pending securities class action, to undertake internal investigations, and for expenses related to the investigation by the Federal Bureau of Investigation.

Cocrystal Pharma Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com: https://www.businesswire.com/news/home/20190118005523/en/