Glancy Prongay & Murray LLP (GPM) announces an investigation on behalf of Namaste Technologies Inc. (Namaste or the Company) (OTC: NXTTF) investors concerning the Company and its officers possible violations of federal securities laws.
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The investigation concerns whether the Companys Chief Executive Officer made false or misleading statements to investors. On October 4, 2018, Citron Research published an article claiming that the Company had entered into an “undisclosed related party” transaction. The Citron report alleged, among other issues, that Namaste’s Chief Executive Officer had falsely “promised investors a Nasdaq listing” and had falsely represented that Namaste had divested the Company of its U.S. assets in a sale to an “arm’s length” purchaser, when the purchaser was in reality a Namaste executive. On this news, shares of Namaste fell $0.19 per share, or nearly 10.5% over the next two trading days, to close at $1.62 on October 5, 2018, thereby injuring investors.
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If you purchased Namaste 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 Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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