LOS ANGELES–(BUSINESS WIRE)–$IGCC #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”), a global investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that purchased or otherwise acquired India Globalization
Capital, Inc. (“India Globalization” or the “Company”) (OTC: IGC
securities between October 25, 2017 and October 29, 2018,
inclusive (the “Class Period”). India Globalization investors have until January
2, 2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
On October 29, 2018, the NYSE American LLC (“NYSE American” or the
“Exchange”) announced “that the staff of NYSE Regulation has determined
to commence proceedings to delist the common stock of India
Globalization Capital, Inc. — ticker symbol IGC — from the Exchange.
Trading in the Company’s common stock on the NYSE American will be
suspended immediately.” As a result, shares of India Globalization were
suspended until October 30, 2018, when shares of IGC began trading on
the OTC under the ticker symbol “IGCC.” India Globalization’s share
price fell $1.93 per share, or more than 77.5%, to close at $0.56 per
share on October 30, 2018, thereby injuring investors.
The complaint filed in this class action 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 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.
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If you purchased shares of India Globalization during the Class Period
you may move the Court no later than January 2, 2019 to
ask the Court to appoint you as lead plaintiff. To be a member of the
Class you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at
310-201-9150, Toll-Free at 888-773-9224, by email to firstname.lastname@example.org,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
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jurisdictions under the applicable law and ethical rules.