NEW YORK, April 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of PharmaCielo Ltd. (“PharmaCielo” or the “Company”) (OTCMKTS: PCLOF). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.
The investigation concerns whether PharmaCielo and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
[Click here for information about joining the class action]
On March 2, 2020, Hindenburg Research published a report alleging, in detail, that PharmaCielo had failed to disclose, among other issues: (i) various transactions with related parties; (ii) the delayed state of its Research Technology and Processing Centre’s construction; and (iii) the poor state of the Company’s Rionegro Growing Facility.
On this news, PharmaCielo’s stock price fell $0.46 per share, or 32.39%, to close at $0.96 per share on March 2, 2020.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 9980
