SOURCE: Applied DNA Sciences

Applied DNA Sciences

November 19, 2015 07:54 ET

Applied DNA Sciences Identifies Suspects in Short Attack

Persons of Interest Reported to State and Federal Authorities

STONY BROOK, NY--(Marketwired - November 19, 2015) - Applied DNA Sciences, Inc. (NASDAQ: APDN) (Twitter: @APDN), a provider of DNA-based anti-counterfeiting and anti-theft technology, product genotyping and product authentication solutions, announced that working with former law enforcement officials, it has identified two persons of interest believed to be involved in the short attack on the company that was perpetrated October 29, 2015. The identities of the suspects have been reported to federal authorities and will be reported to states Attorneys General.

APDN believes that the misstatements in the short attack were a deliberate effort to manipulate the stock price coincident with a quadrupling of the short positions.

Furthermore, the forensic IT investigation revealed that one of the suspects has a background in finance and has been previously fined and ordered to cease and desist operation of an unlicensed investment advisory firm. Given the suspects' backgrounds, the research dedicated to the short attack, and the false and misleading statements and innuendos stated in the short attack, APDN's management believes the short attack is an example of a coordinated, organized stock manipulation to achieve personal gain by the attackers.

About Applied DNA Sciences

Applied DNA Sciences makes life real and safe by providing biotechnology-driven solutions to help protect products, brands, entire supply chains, and intellectual property of companies, governments and consumers from theft, counterfeiting, fraud and diversion. Patented botanical DNA solutions can be used to identify, tag, track, and trace products, to help assure authenticity, traceability and quality of products. SigNature DNA is at the heart of a family of uncopyable, security and authentication solutions such as SigNature® T and fiberTyping®, targeted toward textiles and apparel, DNAnet®, for anti-theft and loss prevention, and digitalDNA®, providing powerful track and trace. All provide a forensic chain of evidence, and can be used to prosecute perpetrators.

Go to adnas.com for more information, events and to learn more about how Applied DNA Sciences makes life real and safe. Common stock listed on NASDAQ under the symbol APDN, and warrants are listed under the symbol APDNW.

Forward Looking Statements

The statements made by APDN in this press release may be "forward-looking" in nature within the meaning of the Private Securities Litigation Act of 1995. Forward-looking statements describe APDN's future plans, projections, strategies and expectations, and are based on assumptions and involve a number of risks and uncertainties, many of which are beyond the control of APDN. Actual results could differ materially from those projected due to our short operating history, limited financial resources, limited market acceptance, market competition and various other factors detailed from time to time in APDN's SEC reports and filings, including our Annual Report on Form 10-K filed on December 15, 2014, as amended on March 6, 2015, and our subsequent quarterly reports on Form 10-Q filed on February 9, 2015, May 11,2015 and August 10, 2015, which are available at www.sec.gov. APDN undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date hereof to reflect the occurrence of unanticipated events, unless otherwise required by law.

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