LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of PharmaCielo Ltd. (“PharmaCielo” or “the Company”) (OTC: PCLOF) for violations of the securities laws.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. PharmaCielo is the subject of a report published by Hindenburg Research on March 2, 2020. According to the report, the Company is “nothing more than the latest self-enrichment scheme drummed up by its co-founder Anthony Wile, who had been charged by the SEC over allegations of securities fraud, stock promotion and market manipulation in the past.” Hindenburg visited the Company’s alleged greenhouse facilities in Colombia and claims that the site is “nothing more than an empty field covered in weeds.” Based on this news, shares of PharmaCielo fell by more than 32% on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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