The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Eastern District of New York on behalf of investors who purchased India Globalization Capital Inc. (OTCMKTS: IGCC) securities between October 25, 2017 and October 29, 2018.
According to the India Globalization lawsuit, throughout the Class Period defendants made 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 the Company’s potential commercial success in the blockchain and cannabis markets; (3) as a result, the NYSE delisted India Globalization’s shares from their 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 India Globalization announced that NYSE Regulation would begin the process of delisting the Company and trading would halt immediately.
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.
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