According to the complaint, defendants made materially false and/or misleading statements and failed to disclose material adverse facts about Picard’s business, operations, and the true nature of its securities trading throughout the Class Period. Specifically, defendants failed to disclose to investors that:
- Picard was the subject of a fraudulent stock promotion scheme involving social media-based misinformation and impersonated financial professionals;
- insiders and/or affiliates used offshore or nominee accounts to facilitate the coordinated dumping of shares during a price inflation campaign;
- Picard’s public statements and risk disclosures omitted any mention of the false rumors and artificial trading activity driving the stock price; and
- as a result of the foregoing, defendants’ positive statements about Picard’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
Attorney Advertising. Prior results do not guarantee a similar outcome.
