Inovio receive complaint from former merger managing director

Inovio Pharmaceuticals {NASDAQ: INO} have ,according to legal website Law360, been in receipt of a complaint from the former managing director of a pharma company they merged with in 2009.

The complaint was filed in a New Jersey Court.

Please note this has been reported by a legal website, and not yet confirmed by Inovio.

Law360, New York (April 24, 2015) — A former managing director of a pharmaceutical company that merged with Inovio Pharmaceuticals Inc.{NASDAQ: INO}  in 2009 has filed a complaint in New Jersey state court against Inovio, contending he was wrongly blocked from exercising certain stock options after the merger.

Keele Park alleges in the Wednesday complaint that Inovio, a Delaware-based pharmaceutical company that develops vaccines for cancers and infectious diseases, and company CEO J. Joseph Kim have breached a 2006 agreement that should have allowed him to purchase 150,000 shares of common stock.