Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Instadose Pharma Corp. f/k/a Mikrocoze, Inc.(“Instadose” or the “Company”) (OTC: INSD) securities between December 8, 2020 and November 14, 2021, inclusive (the “Class Period”). Instadose investors have until February 28, 2022 to file a lead plaintiff motion.
Investors suffering losses on their Instadose investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to howardsmith@howardsmithlaw.com.
On November 23, 2021, the U.S. Securities and Exchange Commission (“SEC”) temporarily suspended trading of Instadose securities due to questions and concerns regarding the adequacy and accuracy of information about the company in the marketplace. The SEC specifically noted significant increases in the stock price and share volume unsupported by the company’s assets and financial information, trading that may be associated with individuals related to a control person of Instadose, and operations of Instadose’s Canadian affiliate.
On this news, once the Company’s trade suspension had ended, Instadose’s stock fell $22.61, or 91.87%, to close at $2.00 per share on December 9, 2021, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) Instadose had performed inadequate due diligence into the Business Combination and/or ignored significant red flags associated with Instadose Canada; (2) Instadose's internal controls and policies were inadequate to detect and/or prevent impermissible trading activity by control persons of the Company; (3) the foregoing subjected Instadose to a heightened risk of regulatory scrutiny and enforcement action; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.
If you purchased Instadose securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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View source version on businesswire.com: https://www.businesswire.com/news/home/20220106005170/en/
Contacts:
Howard G. Smith, Esquire
215-638-4847
888-638-4847
howardsmith@howardsmithlaw.com
www.howardsmithlaw.com
