India Globalization Capital, Inc. Securities Litigation
On or around 12/12/2019 (Date of last review)
Filing Date: November 02, 2018
According to the Complaint, India Globalization Capital, Inc. ("IGC" or the Company) operates two distinct business segments. One segment develops and commercializes cannabinoid based alternative therapies for indications such as Alzheimer's disease, Parkinson's disease, and pain. The Company's second segment, operated since its inception, is a legacy business that involves trading commodities and heavy equipment rental.
The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: IGC was engaged in ventures or promotions which it had not developed to commercial stage; IGC or its management had engaged in operations contrary to the public interest; and that as a result of the foregoing, IGC’s public statements were materially false and misleading at all relevant times and led to IGC's suspension from trading on the NYSE American Stock Exchange, and the commencement of delisting proceedings from that exchange.
On February 28, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on May 13.
Company & Securities Information
Defendant: India Globalization Capital, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: IGC
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Alde-Binet Tchatchou, et al. v. India Globalization Capital, Inc., et al.