Gainey McKenna & Egleston announced that a class action lawsuit has been filed against India Globalization Capital, Inc. The announcement was made in the United States District Court for the Eastern District of New York, on behalf of a class consisting of investors who purchased, or otherwise acquired, India Globalization securities between October 25, 2017 through October 29, 2018.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: India Globalization’s business model was in a state of change in order to lure potential blockchain and cannabis investors. India Globalization had overstated the benefits of its relationships with manufacturers, partners, and distributors in order to inflate its potential commercial success in the blockchain and cannabis markets. As a result, the New York Stock Exchange de-listed India Globalization’s shares from its exchange. And consequently, Defendants’ statements about India Globalization’s business, operations and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the January 2, 2019 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.
Bragar Eagel & Squire, P.C. also reminds investors that class action lawsuits have been commenced on behalf of stockholders of Alnylam Pharmaceuticals, Inc., Acadia Healthcare Company, Inc., and India Globalization Capital, Inc. Stockholders have until the deadlines listed below, to petition the court to serve as lead plaintiff.
Lead Plaintiff Deadline: November 26, 2018 for Alnylam Pharmaceuticals. Lead Plaintiff Deadline: December 3, 2018 for Acadia Healthcare Company, Inc. Lead Plaintiff Deadline: January 2, 2019 for India Globalization Capital, Inc.