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Lawsuit filed for Investors in shares of PharmaCielo Ltd. (OTC: PCLOF)

03-14-2020 04:21 AM CET | Politics, Law & Society

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in PharmaCielo Ltd. (OTC: PCLOF) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in PharmaCielo Ltd. (OTC: PCLOF) shares over alleged securities laws violations.

An investor, who purchased shares of PharmaCielo Ltd. (OTC: PCLOF), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by PharmaCielo Ltd..

Investors who purchased shares of PharmaCielo Ltd. (OTC: PCLOF) have certain options and for certain investors are short and strict deadlines running. Deadline: May 5, 2020. OTC: PCLOF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On March 2, 2020, a report was published alleging that PharmaCielo was "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 also visited PharmaCielo's purported greenhouse facilities in Colombia and found that the site is "nothing more than an empty field covered in weeds."

Shares of PharmaCielo Ltd. (OTC: PCLOF) declined from $8.95 per share in March 2019 to as low as $0.46 per share on March 12, 2020.

The plaintiff claims that between June 21, 2019 and March 2, 2020, the defendants made false and/or misleading statements and/or failed to disclose that PharmaCielo engaged in an undisclosed related party transactions with General Extract LLC, that PharmaCielo engaged in misleading transactions and loans with General Extract LLC and XPhyto Therapeutics Corp., that PharmaCielo's Research Technology and Processing Centre was never on-schedule and is delayed, that the Rionegro facility is located on a floodplain and contaminated with mold and pesticides from its previous tenants, that PharmaCielo's Cauca Department land has never been utilized by the Company and is idle, and that as a result, Defendants' public statements were materially false and/or misleading at all relevant times.

Those who purchased shares of PharmaCielo Ltd. (OTC: PCLOF) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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