Shareholder Alert: Robbins LLP Reminds Investors That Instadose Pharma Corp. (INSD) f/k/a Mikrocoze, Inc. (MZKR) Is Being Sued for Misleading Shareholders

CANNANNEW REPORT

SAN DIEGO–(BUSINESS WIRE)–$INSD #Milkrocoze–Shareholder rights law firm Robbins LLP reminds investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Instadose Pharma Corp. (OTC: INSD) securities between December 8, 2020 and November 24, 2021, for violations of the Securities Exchange Act of 1934. Instadose was formerly known as Mikrocoze, Inc. (OTC: MZKR), which was organized to sell micro-furniture for small spaces via the Internet. The Company has pivoted its business to focus on growth and acquisition of pharmaceutical grade agricultural products. If you suffered a loss due to Instadose Pharma Corp.’s misconduct, click here. Instadose Pharma Corp. (INSD) Misled Investors Causing a Halt in Trading According to the complaint, on December 7, 2020, Instadose (still known as Mikrocoze) entered into a non-binding letter of intent with Instadose Pharma Corp., a Canadian-based cannabis producer, and holders of a majority of its outstanding shares. On July 9, 2021, the Ontario Securities Commission (“OSC”) announced that the Chairman and Chief Executive Officer (“CEO”) of Instadose was charged quasi-criminally with one count of fraud. The OSC alleged that the CEO diverted investor funds for his benefit and that Instadose materially misrepresented the nature of its business. Then, on November 24, 2021, in a filing with the SEC, Instadose disclosed that “[o]n November 23, 2021, the Company was notified by the SEC that it had ordered … that trading in the securities of [Instadose] is suspended for the period from 9:30 a.m. EDT on November 24, 2021, through 11:59 p.m. EDT on December 8, 2021.” The SEC’s order stated that “it appears to the [SEC] that the public interest and the protection of investors require a suspension in the trading of [Instadose] securities … because of questions and concerns regarding the adequacy and accuracy of information…

Excerpt only …
READ MORE BELOW
Source : Shareholder Alert: Robbins LLP Reminds Investors That Instadose Pharma Corp. (INSD) f/k/a Mikrocoze, Inc. (MZKR) Is Being Sued for Misleading Shareholders

reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.