A lawsuit was filed on behalf of investors in Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/19/2019 -- An investor, who purchased shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM), filed a lawsuit in the U.S. over alleged violations of Federal Securities Laws by Oasmia Pharmaceutical AB in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) have certain options and for certain investors are short and strict deadlines running. Deadline: September 27, 2019. NASDAQ: OASM investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
On July 9, 2019, post-market, Oasmia reported that it had terminated its "engagement and cooperation" with former executive chairman Julian Aleksov without further pay, following a tax audit that revealed missing funds connected to suspicious transactions between Oasmia and companies controlled by Aleksov and his former father-in-law. Shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) declined from $5.06 per share in November 2018 to as low as $1.78 per share on July 11, 2019.
The plaintiff claims that between October 23, 2015 through July 9, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Oasmia engaged in improper related-party transactions with Alceco International S.A. and Ardenia Investment LTD, which were controlled by Defendant Aleksov and his former father-in-law, that due to those transactions, millions of Swedish kronor were not accounted for in Oasmia's books;, that transactions concerning Oasmia's patents were also "carried out in a doubtful way;" and that as a result of the aforementioned misconduct, defendants' statements about Oasmia's business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Those who purchased shares of Oasmia Pharmaceutical AB (publ) (NASDAQ: OASM) have certain options and should contact the Shareholders Foundation.
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