[July 20, 2017] |
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July 24 Deadline: Law Offices of Howard G. Smith Reminds Eco Science Solutions, Inc. Investors of Pending Lawsuit And Upcoming Lead Plaintiff Deadline
Law Offices of Howard G. Smith reminds investors of the upcoming July
24, 2017 deadline to file a lead plaintiff motion in the class
action lawsuit filed on behalf of a class 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.
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, throuhout the
Class period, Eco Science made materially false and misleading
statements about the Company's operations and prospects. Specifically,
the complaint alleges that the Company issued false and/or misleading
statements and/or failed to disclose: (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 Eco Science securities, you may move the Court no later
than July 24, 2017 to request appointment as lead plaintiff
in the putative class action lawsuit. 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 action
lawsuit. 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 this lawsuit, please contact Howard G. Smith, Esquire, of Law
Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem,
Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888)
638-4847, or by email to [email protected],
or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170720006043/en/
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