|By Business Wire||
|February 14, 2014 07:02 AM EST||
NanoViricides, Inc. (NYSE MKT:NNVC) (the “Company”) has demanded from Seeking Alpha the removal of a damaging, baseless and inaccurate article posted by a person who was shorting NNVC common stock.
It is obvious that the anonymous author of this article orchestrated the publication of this article in connection with a massive short position which this person was a major beneficiary of, possibly in collusion with others. The article was clearly designed to manipulate the price of the Company’s common stock downwards for significant personal gains for the persons with short position in the stock including this anonymous author, at the expense of the Company’s shareholders. The article is pure libel, full of numerous false statements, inaccuracies, innuendos, is not based on any factual information about the Company, and twists many facts to fit the person’s motivation to cause a damaging view about the Company. The article has caused significant damage to the Company and its shareholders.
The Company has demanded retraction of the article from the SeekingAlpha website and disclosure of the identity of the anonymous person who posted it. The full text of the demand is posted on our website under the item: “NanoViricides Demands Retraction of the Damaging Article by an Anonymous Short Seller Posted on SeekingAlpha Website”.
The Company is also preparing a complaint to file with the Securities and Exchange Commission to request it to investigate this stock price manipulation.
NanoViricides, Inc. is fully prepared to seek appropriate legal action against parties involved in this libelous attack.
NanoViricides, Inc. (www.nanoviricides.com) is a development stage company that is creating special purpose nanomaterials for viral therapy. The Company's novel nanoviricide® class of drug candidates are designed to specifically attack enveloped virus particles and to dismantle them. The Company is developing drugs against a number of viral diseases including H1N1 swine flu, H5N1 bird flu, seasonal Influenza, HIV, oral and genital Herpes, viral diseases of the eye including EKC and herpes keratitis, Hepatitis C, Rabies, Dengue fever, and Ebola virus, among others.
This press release contains forward-looking statements that reflect the Company's current expectation regarding future events. Actual events could differ materially and substantially from those projected herein and depend on a number of factors. Certain statements in this release, and other written or oral statements made by NanoViricides, Inc. are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the Company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Important factors that could cause actual results to differ materially from the company's expectations include, but are not limited to, those factors that are disclosed under the heading "Risk Factors" and elsewhere in documents filed by the company from time to time with the United States Securities and Exchange Commission and other regulatory authorities. Although it is not possible to predict or identify all such factors, they may include the following: demonstration and proof of principle in pre-clinical trials that a nanoviricide is safe and effective; successful development of our product candidates; our ability to seek and obtain regulatory approvals, including with respect to the indications we are seeking; the successful commercialization of our product candidates; and market acceptance of our products.