Namaste Technologies Inc
0 DAYS LEFT TO SEEK LEAD PLAINTIFF STATUS
Case Summary | |
Company Name: | Namaste Technologies Inc |
Stock Symbol : | OTC: NXTTF |
Class Period Start: | 11/29/2017 |
Class Period End: | 10/04/2018 |
Lead Plaintiff motion: | 12/05/2018 |
Date Filed: | 10/06/2018 |
Type of Case: | Securities Class Action |
Court: | U.S. District Court for the Eastern District of New York |
Summary: | Thieler Law Corp advises investors with losses exceeding $100,000 of the December 5, 2018 lead plaintiff deadline in a class action lawsuit filed against Namaste Technologies Inc (OTC: NXTTF) (“Namaste” or “the Company”). The suit is pending in the U.S. District Court for the Eastern District of New York and investors, who purchased Namaste Technologies Inc securities between November 29, 2017 and October 4, 2018, have until December 5, 2018 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class. If you purchased Namaste Technologies Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class. The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that Namaste had sold its wholly-owned U.S. subsidiary to Namaste executives; consequently, Namaste did not sell its U.S. subsidiary in an arm’s length transaction; and as a result, Defendants’ statements about the company’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. On October 4, 2018, an article published by Citron Research stated that Namaste had entered into an "undisclosed related party" transaction. The Citron report alleged, that Namaste's Chief Executive Officer had falsely "promised investors as Nasdaq listing" and had falsely represented that Namaste had divested the Company of its U.S. assets in a sale to an "arm's length" purchaser, when the purchaser was in reality a Namaste executive. On this news, OTC: NXTTF fell roughly 10.5% over the next two trading days, to close at $1.62 per share on October 5, 2018. If you were negatively impacted by your investment in Namaste Technologies Inc securities between November 29, 2017 and October 4, 2018 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation. Thieler Law Corp purchases advertisements on search engines, social media sites and other websites. If you send us information, note that does not create an attorney-client relationship with the firm. Materials are provided for informational purposes only and do not constitute legal advice. We are only licensed to practice law in Germany. We are neither licensed nor qualified to render advice on US Federal or State law. Thieler Law Corp 2534 State Street - Suite 406, San Diego, CA 92101 by email: mail@thielerlaw.com or telephone at +1 (619) 377 - 4324 or visit our website http://www.thielerlaw.com/ or Facsimile: +1 (619) 785 – 3185 |