NEW YORK, Jan. 02, 2019 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against India Globalization Capital, Inc. ("India Globalization" or the "Company") (NYSE: IGC ) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired India Globalization securities between October 25, 2017 and October 29, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: bgandg.com/igc.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) India Globalization’s business model was in a state of change in order to lure potential blockchain and cannabis investors; (2) 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; (3) as a result, the New York Stock Exchange delisted India Globalization’s shares from its exchange; and (4) 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.
On October 29, 2018, the NYSE American LLC announced “that the staff of NYSE Regulation has determined to commence proceedings to delist the common stock of India Globalization Capital, Inc. (NYSE: IGC) — ticker symbol IGC —from the Exchange. Trading in the Company's common stock on the NYSE American will be suspended immediately." The NYSE American LLC also said that the "Company or its management have engaged in operations which, in the opinion of the Exchange, are contrary to the public interest."
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: bgandg.com/igc or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in India Globalization you have until January 2, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact: Bronstein, Gewirtz & Grossman, LLC Peretz Bronstein or Yael Hurwitz 212-697-6484 | info@bgandg.com
