An investigation on behalf of current long term investors in RenovaCare, Inc. (OTC:RCAR) shares over possible breaches of fiduciary duty by certain officers and directors was announced.
San Diego, CA -- (SBWIRE) -- 10/15/2021 -- An investigation was announced concerning potential breaches of fiduciary duties by certain directors and officers of RenovaCare, Inc.
Investors who are current long term investors in RenovaCare, Inc. (OTC: RCAR) shares, have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The investigation by a law firm for current long term investors in OTC: RCAR stocks follows a lawsuit filed against RenovaCare, Inc. over alleged securities laws violations. The investigation on behalf of current long term investors in OTC: RCAR stocks, concerns whether certain RenovaCare directors are liable in connection with the allegations made in that lawsuit.
According to that complaint filed in the U.S. District Court for the District of New Jersey the plaintiff alleges that the Defendants failed to disclose to investors that, at the direction of Rayat, RenovaCare engaged in a promotional campaign to issue misleading statements to artificially inflate the Company's stock price, that, when the OTC Markets inquired, RenovaCare and Rayat issued a materially false and misleading press release claiming that no director, officer, or controlling shareholder had any involvement in the purported third party's promotional materials, that, as a result of the foregoing, the Company's disclosure controls and procedures were defective, and as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times.
Those who purchased shares of RenovaCare, Inc. (OTC: RCAR) have certain options and should contact the Shareholders Foundation.
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