The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of investors who purchased Renovacare, Inc. (OTCMKTS: RCAR) securities between August 14, 2017 and May 28, 2021.
According to the Renovacare lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) at the direction of Harmel Rayat, RenovaCare engaged in a promotional campaign to issue misleading statements to artificially inflate the Company’s stock price; (2) when the OTC Markets inquired, RenovaCare and Mr. Rayat issued a materially false and misleading press release claiming that no director, officer, or controlling shareholder had any involvement in the purported third party’s promotional materials; (3) as a result of the foregoing, the Company’s disclosure controls and procedures were defective; and (4) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
If you suffered a loss in Renovacare you have until September 14, 2021 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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