According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- Global Cord employed a capital allocation strategy designed to reserve funds for Global Cord insiders and related parties rather than for the benefit of Global Cord shareholders;
- Global Cord’s decisions to reject multiple going private offers and enter into the Transaction, an agreement to acquire Cellenkos Inc. for over $1 billion (including in Global Cord shares) were nothing more than self-serving and conflicted attempts by defendants to divert company funds to corporate insiders and related parties;
- defendants had fundamentally misrepresented to investors Global Cord’s approach to capital allocation, strategic investments, acquisitions, and related party transactions as a result of the misappropriation by defendant Yuen Kam and his entities of hundreds of millions of dollars from Global Cord; and
- as a result, Global Cord’s public statements were materially false and misleading at all relevant times.
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.
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