NEW YORK–(BUSINESS WIRE)–$IGC #classaction–The law firm of Kirby
McInerney LLP reminds investors that a class action lawsuit has been
filed in the U.S. District Court for the Eastern District of New York on
behalf of all persons or entities who acquired India Globalization
Capital, Inc. (“India Globalization” or the “Company”) (NYSE: IGC,
securities between October 25, 2017 and October 29, 2018 (the
“Class Period”). Investors have until January 2, 2019 to apply to the
Court to be appointed as lead plaintiff in the lawsuit.
According to the lawsuit, 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 its potential commercial
success in the blockchain and cannabis markets; and (3) as a result, the
New York Stock Exchange delisted India Globalization’s shares from its
exchange. When the true details entered the market, India Globalization
stock fell $1.96 per share, or over 78%, from its previous closing price
to close at $0.53 per share on October 30, 2018.
If you acquired India Globalization securities, have information, or
would like to learn more about these claims, please contact Thomas
W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at firstname.lastname@example.org,
or by filling out this
contact form, to discuss your rights or interests with respect to
these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower litigation.
The firm’s efforts on behalf of shareholders in securities litigation
have resulted in recoveries totaling billions of dollars. Additional
information about the firm can be found at Kirby McInerney LLP’s
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jurisdictions under the applicable law and ethical rules.