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Robbins Geller Rudman & Dowd LLP Announces Securities Cases Have Been Filed on Behalf of Purchasers of India Globalization Capital, Inc. Stock


Geller Rudman & Dowd LLP
announces that securities class action
cases have been filed on behalf of purchasers of India Globalization
Capital, Inc. (OTC:IGCC) securities between October 25, 2017 and October
29, 2018 (the "Class Period"). Two actions were filed in two different
courts: Tchatchou v. India Globalization Capital, Inc., No.
8:18-cv-03396 (D. Md. – Judge Grimm), and Samn v. India Globalization
Capital, Inc.
, No. 1:18-cv-06199 (E.D.N.Y. – Judge Irizarry).

The Private Securities Litigation Reform Act of 1995 permits any
investor who purchased India Globalization securities during the Class
Period to seek appointment as lead plaintiff. A lead plaintiff acts on
behalf of all other class members in directing the litigation. The lead
plaintiff can select a law firm of its choice. An investor's ability to
share in any potential future recovery is not dependent upon serving as
lead plaintiff. If you wish to serve as lead plaintiff or have questions
concerning your rights, please contact Brian
of Robbins Geller at 800/449-4900 or 619/231-1058, or via
e-mail at Lead
plaintiff motions must be filed with the court no later than 60 days
from November 2, 2018.

The complaints charge that India Globalization and three senior
executive officers violated the Securities Exchange Act of 1934 by
issuing materially false and misleading statements and/or failing to
disclose adverse facts about the Company's business, operations, and
prospects. Specifically, the complaints allege that defendants failed to
disclose adverse information regarding India Globalization's business
and operations, including that: (1) India Globalization's business model
was being abandoned to lure potential blockchain and cannabis investors;
(2) India Globalization had overstated the benefits of its relationships
with manufacturers, partners, and distributors to inflate its potential
commercial success in the blockchain and cannabis markets; and (3) as a
result, the New York Stock Exchange ("NYSE") delisted India
Globalization's shares from its exchange. As a result of these false
statements and/or omissions, shares of India Globalization traded at
artificially inflated prices during the Class Period, reaching a high of
$14.58 per share.

On September 25, 2018, when the Company announced it was going to enter
into the Hemp/CBD-infused energy drink space with its introduction of
several products, including "Nitro G," a sugar free energy drink, the
price of India Globalization shares increased 458% within a week of the
announcement. Following this astronomic rise in the Company's stock
price, Citron Research started to question the veracity of the Company's
operations and MarketWatch launched an investigation and
published a story similarly questioning the Company's operations. This
caused a precipitous decline in the price of India Globalization's stock

Then, on October 29, 2018, the NYSE announced that trading in the
Company's stock would be immediately suspended and delisted from the
exchange. The exchange's press release stated that it had commenced
delisting procedures pursuant to the NYSE American Company Guide
§1003(c)(i), which states that "where the issuer has substantially
discontinued the business that it conducted at the time it was listed .
. . and has become engaged in ventures or promotions which have not
developed to a commercial stage or success of which is problematical, it
shall be considered an operating company for the purposes of continued
trading and listing on the Exchange." The release went on to state that
"the Company or its management have engaged in operations which, in the
opinion of the Exchange, are contrary to the public interest." On this
news, trading in India Globalization shares was halted, and when the
shares resumed trading the next day, the price of the shares fell 77.5%
to close at $0.56 per share on October 30, 2018.

Robbins Geller is one of the world's leading law firms representing
investors in securities litigation. With 200 lawyers in 10 offices,
Robbins Geller has obtained many of the largest securities class action
recoveries in history. For five consecutive years, ISS Securities Class
Action Services has ranked the Firm in its annual SCAS Top 50 Report as
one of the top law firms in both the amount recovered for shareholders
and the total number of class action settlements. Robbins Geller
attorneys have helped shape the securities laws and recovered tens of
billions of dollars on behalf of aggrieved victims. Beyond securing
financial recoveries for defrauded investors, Robbins Geller also
specializes in implementing corporate governance reforms, helping to
improve the financial markets for investors worldwide. Please visit
for more information.

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