-

Shareholder Alert: Robbins LLP Announces PharmaCielo Ltd. (PCLOF) Sued for Misleading Shareholders

SAN DIEGO--(BUSINESS WIRE)--Shareholder rights law firm Robbins LLP announces that a purchaser of PharmaCielo Ltd. (OTC: PCLOF) filed a class action complaint against the Company for alleged violations of the Securities Exchange Act of 1934 between June 21, 2019 and March 2, 2020. PharmaCielo, through its subsidiary, PharmaCielo Colombia Holdings S.A.S., cultivates, processes, produces, and supplies medical-grade cannabis oil extracts and related products in Colombia and internationally.

If you suffered a loss as a result of PharmaCielo's misconduct, click here.

PharmaCielo Ltd. (PCLOF) Accused of Misleading Shareholders

According to the complaint, in September 2019, PharmaCielo issued a press release announcing that it "ha[d] signed a United States sales agreement with an established multi-state distributor, General Extract LLC." Following this announcement, in November 2019, PharmaCielo released its Company's third quarter 2019 financial statements touting that it was "nearing completion of [its] extraction and processing center ("RTC"), which will expand the Company's extraction capacity." While PharmaCielo's November financial statements purported to list all of the Company's related party transactions, on March 2, 2020, Hindenburg Research reported that General Extract LLC was a related party entity with no credible operations run by PharmaCielo's former COO. The report further asserted that PharmaCielo had engaged in misleading business transactions with General Extract and Xphyto Therapeutics, and questioned the delayed development of its processing center and general misinformation regarding its production facilities. Since this news, shares of PharmaCielo have declined 63% per share, currently trading at around $0.51 per share.

PharmaCielo Ltd. (PCLOF) Shareholders Have Legal Options

Contact us to learn more:
Leo Kandinov
(800) 350-6003
lkandinov@robbinsllp.com
Shareholder Information Form

Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.

Attorney Advertising. Past results do not guarantee a similar outcome.

Contacts

Leo Kandinov
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
lkandinov@robbinsllp.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com

Industry:

Robbins LLP

OTC Pink:PCLOF
Release Versions
English
$Cashtags
$PCLOF
Hashtags
#ClassAction
#Finance
#Investment
#Investor
#Lawsuit
#SecuritiesClassActions
#Shareholder
#ShareholderRights
#StockAlert
#StockMarketNews
#StockNews
#StockTrading
#Stocks

Contacts

Leo Kandinov
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
lkandinov@robbinsllp.com
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com

More News From Robbins LLP

Erasca, Inc. Class Action Reminder - Robbins LLP Encourages ERAS Stockholders to Contact the Firm for Information About Their Rights  

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Erasca, Inc. (NASDAQ: ERAS) securities between January 14, 2025 and April 26, 2026. Erasca, Inc., a clinical-stage precision oncology company, focuses on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers.For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call...

ADMA Biologics, Inc. Stock Drop: Robbins LLP Urges Investors to Contact the Firm for Information About the Class Action Against ADMA Biologics, Inc.

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired ADMA Biologics, Inc. (NASDAQ: ADMA) securities between August 9, 2024 and March 25, 2026. ADMA Biologics, Inc. is a biopharmaceutical company that develops, manufactures, and markets specialty plasma-derived biologics for the treatment of immune deficiencies and infectious diseases in the United States and internationally. For more information...

VIA Transportation, Inc. Stock Drop: Harmed Investors Should Contact Robbins LLP for Information About Leading the Class Action Against VIA

SAN DIEGO--(BUSINESS WIRE)--Robbins LLP reminds stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Via Transportation, Inc. (NYSE: VIA) in connection with the Company's September 15, 2025 initial public statement ("IPO"). Via Transportation, Inc. provides a platform that transforms global transportation systems into digital networks in the United States, Germany, and internationally.For more information, submit a form, email attorney Aaron D...
Back to Newsroom