LOS ANGELES, Dec. 03, 2018 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against India Globalization Capital, Inc. (“India Globalization” or “the Company”) (NYSE: IGC, OTC: IGCC) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s shares between October 25, 2017 and October 29, 2018, inclusive (the ”Class Period”), are encouraged to contact the firm before January 2, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. India Globalization had initiated significant change to its business model to increase the Company’s attractiveness to cannabis and blockchain investors. The Company inflated its chances for success in these markets by overstating relationships with manufacturers, distributors, and other business partners. This resulted in the New York Stock Exchange delisting India Globalization’s shares. As a result of these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about India Globalization, investors suffered damages.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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