Lead Plaintiff Deadline: 05/05/2020
SUMMARY OF CASE:
A securities class action has been filed against PharmaCielo Ltd. (PCLOF) on behalf of purchasers of the securities of PharmaCielo between June 21, 2019 through March 2, 2020. This case has been filed in the USDC – C.D.CA.
The Complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) PharmaCielo engaged in an undisclosed related party transactions with General Extract LLC; (2) PharmaCielo engaged in misleading transactions and loans with General Extract LLC and XPhyto Therapeutics Corp.; (3) PharmaCielo’s Research Technology and Processing Centre was never on-schedule and is delayed; (4) the Rionegro facility is located on a floodplain and contaminated with mold and pesticides from its previous tenants; (5) PharmaCielo’s Cauca Department land has never been utilized by the Company and is idle; and (6) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times.