According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- at the direction of the Company’s Chairman, Harmel Rayat, RenovaCare engaged in a promotional campaign to issue misleading statements to artificially inflate the Company’s stock price;
- when the OTC Markets inquired, RenovaCare and Rayat issued a materially false and misleading press release claiming that no director, officer, or controlling shareholder had any involvement in the purported third party’s promotional materials;
- as a result of the foregoing, the Company’s disclosure controls and procedures were defective; and
- as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis 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.
Attorney Advertising. Prior results do not guarantee a similar outcome.
