CLASS ACTION ALERT: Brower Piven Notifies Investors of Class Action Lawsuit And Encourages Those Who Have Significant Losses From Investment In India Globalization Capital, Inc. (NYSE: IGC) (Other OTC: IGCC) To Contact Brower Piven Before The Lead Plaintiff Deadline
STEVENSON, Md., Dec. 07, 2018 (GLOBE NEWSWIRE) -- The securities litigation law firm of Brower Piven, A Professional Corporation, announces that a class action lawsuit has been commenced in the United States District Court for the District of Maryland on behalf of purchasers of India Globalization Capital, Inc. (NYSE: IGC) (Other OTC: IGCC) (“IGC” or the “Company”) securities during the period between June 21, 2018 through October 29, 2018, inclusive (the “Class Period”). Investors who wish to become proactively involved in the litigation have until January 2, 2019 to seek appointment as lead plaintiff.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in IGC securities during the Class Period. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action.
The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that IGC was engaged in ventures or promotions which it had not developed to commercial stage and it had engaged in operations contrary to the public interest.
According to the complaint, following an October 28, 2018 article about a number of red flags that undermine the claims by the Company, including its financial reporting being tied to a fraudulent company and the senior executives having suspicious credentials, the value of IGC shares declined significantly.
If you have suffered a loss in excess of $100,000 from investment in IGC securities purchased on or after June 21, 2018 and held through the revelation of negative information during and/or at the end of the Class Period and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, without cost or obligation to you, please contact Brower Piven either by email at email@example.com or by telephone at (410) 415-6616.
Attorneys at Brower Piven have extensive experience in litigating securities and other class action cases and have been advocating for the rights of shareholders since the 1980s. If you choose to retain counsel, you may retain Brower Piven without financial obligation or cost to you, or you may retain other counsel of your choice. You need take no action at this time to be a member of the class.
CONTACT: Charles J. PivenBrower Piven, A Professional Corporation1925 Old Valley RoadStevenson, Maryland 21153Telephone: 410-415-6616 firstname.lastname@example.org