LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit on behalf of investors who purchased or otherwise acquired Eco Science Solutions, Inc. (“Eco Science” or the “Company”) (OTC: ESSI) securities between December 2, 2016, and May 19, 2017, inclusive (the “Class Period”). Eco Science investors have until July 24, 2017 to file a lead plaintiff motion.
Investors suffering losses on their Eco Science investments are encouraged to contact Lesley Portnoy of GPM to discuss their legal rights in this class action at 310-201-9150 or by email to firstname.lastname@example.org.
On December 15, 2016, a report was published on SeekingAlpha.com alleging that Eco Science was operating a “pump-and-dump scheme” whereby the Company was paying a third party to promote the Company’s stock, inflating the market price, while the Company’s primary products—two mobile apps—were essentially worthless.
On June 6, 2017, when the Company’s stock began trading again, it closed at $0.65 per share, which was a decline of approximately $1.72 per share, or 72.5%, from the Company’s closing price of approximately $2.37 on May 19, 2017.
According to the Complaint filed in this class action, throughout the Class period, Eco Science made materially false and misleading statements about the Company’s compliance, operational and business policies. Specifically, the complaint alleges that the Company issued false and/or misleading statements and/or failed to disclose that: (1) that the Company was using advertising funds to promote the Company’s stock; (2) that the Company’s mobile app products were essentially worthless; (3) that the Company engaged in a series of transactions intended to enriching Defendant Gannon Giguiere at the expense of the investing public; (4) that Ga-Du Bank was operated by the Southern Cherokee Nation and The Red Fire People Central Bank, a purportedly unrecognized Native American tribe; (5) that the Company disseminated false information concerning, among other things, Eco Science’s proposed acquisition of Ga-Du Bank; (6) that, as such, the Company was operating a pump-and-dump scheme; and (7) that, as a result of the foregoing, Defendants’ statements about Eco Science’s business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.
If you purchased shares of Eco Science during the Class Period you may move the Court no later than July 24, 2017 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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