Robbins Arroyo LLP Reminds Investors of January 2, 2019 Lead Plaintiff Deadline in Class Action Against India Globalization Capital, Inc. (IGCC)
SAN DIEGO & BETHESDA, Md.--(BUSINESS WIRE)--Dec 3, 2018--Shareholder rights law firm Robbins Arroyo LLP reminds investors that purchasers of India Globalization Capital, Inc. (OTC: IGCC) have filed a class action complaint against the company’s officers and directors for alleged violations of the Securities Exchange Act of 1934 between October 25, 2017 and October 29, 2018.
If you purchased India Globalization Capital and wish to serve as lead plaintiff in this securities class action, you must move the Court no later than January 2, 2019.
According to the complaint, the company touted its business prospects, including importation and distribution of its cannabinoid-based therapies to aid Alzheimer’s patients. On October 4, 2018, MarketWatch published an article noting the company’s past troubles with the SEC, its history of changing course as new businesses become popular, and the fact that its business partners appear to be sham companies. As a result, India Globalization Capital’s stock fell over 27% on October 4, 2018, and by closing on October 5, 2018, had dropped an additional almost 37%. Then, on October 29, 2018, the NYSE announced that the company’s stock would be delisted because India Globalization Capital “has substantially discontinued the business that it conducted at the time it was listed or admitted to trading…” On October 30, 2018, shares of IGCC began trading OTC. The stock plummeted over 77% to close at $0.56 per share.
View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/india-globalization-capital-inc-nov-2018/
India Globalization Capital 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. Sign up for our FREE portfolio monitoring service, Stock Watch.
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View source version on businesswire.com:https://www.businesswire.com/news/home/20181203006057/en/
CONTACT: Leonid Kandinov
Robbins Arroyo LLP
(619) 525-3990 or Toll Free (800) 350-6003
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
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SOURCE: Robbins Arroyo LLP
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PUB: 12/03/2018 07:37 PM/DISC: 12/03/2018 07:37 PM