NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Namaste Technologies Inc. (OTC: NXTTF) resulting from allegations that Namaste may have issued materially misleading business information to the investing public.
On October 4, 2018, Citron Research published a report entitled, “Namaste: Citron has exposed complete FRAUD that underpins the ‘Business’ of Namaste,” stating that CEO “[Sean] Dollinger said he sold [an] asset to an arm’s length party . . . but it was really sold to David Hughes who has been with Namaste since Feb 2015 (and Paul Burn who has been with Namaste since 2016).” The report also alleges that “Namaste has lied to its shareholders, Canadian Regulators, US Regulators; and most of all has attempted to hide US assets from the Justice Department in an attempt to obtain a US listing.” On this news, shares of Namaste fell $0.078 per share or over 4.3% to close at $1.73 per share on October 4, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by Namaste investors. If you purchased shares of Namaste please visit the firm’s website at https://www.rosenlegal.com/cases-1425.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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