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 [email protected] or [email protected].
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.
- About the Author
- Latest Articles
About Wieke Beenen
Writing has always been the red thread in my life. In the early 90’s I attended the Journalism program at the School for Journalism in Utrecht and later the History and Journalism program at the RUG in Groningen. I spent a number of years working in the Caribbean boating industry as a first mate on several charter boats as well as in the island media writing about culture, flora and fauna. After moving back to the Netherlands I started my own translation business in 2005. After a short detour teaching kids English at several high schools, I’m now back doing what I like best, writing and editing content for Blockchain News.
- A Class Action Lawsuit Has Been Filed Against India Globalization Capital, Inc. by Gainey and McKenna & Egleston – November 7, 2018
- Blockchain used to empower African smallholder farmers to enter the global food market – November 6, 2018
- Blockchain Company Reveals a Powerful Fitness App Aiming to Reward Workouts with Tokens. – November 2, 2018
- WeedMD and Blockstrain launch Proprietary Genome Tracking Software to Protect Cannabis Genetics & Intellectual Property – October 25, 2018
- Richard Branson’s Extreme Tech Challenge announces 2018 Winner of its fourth annual Competition on Necker Island – October 25, 2018
- Investx stabilizes Token by adopting Holo’s Ethical ICO model – October 25, 2018
- MIT Silvio Micali’s Algorand announces $62M in Funding and Appoints new Executive Team – October 24, 2018
- Partnership between Charity Game Master and SilverLogic Marks Beginning of a Worldwide Charity Health Network – October 22, 2018
- Blockchain-enabled supply chain platform ensures legal flow of products through the Canadian cannabis market – October 19, 2018
- New Documentary Funded by Crypto Shows People’s Problems and Tangible Solutions through Blockchain – October 19, 2018
- Number of Blockchain Startups have Tripled In Israel – October 18, 2018
- Report sheds new Light on Participation or Involvement of Celebrities in Blockchain and ICOs – October 18, 2018
- Record Rate of New Crypto Hedge Fund Launches in 2018 – October 17, 2018
- Woz U and BlockGeeks Announce New Partnership, offering Career Training with Expertise in Blockchain Technology. – October 15, 2018
- VNX Exchange announces Partnership with NEM, Bridging the Gap between the Mainstream Financial Industry and the Crypto-economy – October 12, 2018
- Health Data Tokenization could Transform the Future of Healthcare – October 12, 2018
- DNAtix And Biologix are launching a Pilot in Nigeria Aiming to Offer Advance Genetic Services – October 12, 2018
- Everest, and 1000 Alternatives, announce new partnership to accelerate blockchain innovation – October 11, 2018
- Hedge fund manager to disrupt traditional venture capital model with decentralized blockchain ecosystem – October 10, 2018
- First Non-Custodial, Community Owned Crypto Exchange launched by Trinkler Software – October 10, 2018
View All Articles
Blockchain used to empower African smallholder far…
Blockchain Company Reveals a Powerful Fitness App …
Ethereum Now On Hyperledger Fabric
8000+ Expected – Blockchain Expo North Ameri…
Enjin Smart Wallet Update Will Allow Users To Melt…