BENSALEM, Pa.–(BUSINESS WIRE)–$PCLOF #fraud–Law Offices of Howard G. Smith announces an investigation on behalf PharmaCielo Ltd. (“PharmaCielo” or “the Company”) (OTC: PCLOF) investors concerning the Company and its officers’ possible violations of federal securities laws.
On March 2, 2020, Hindenburg Research published a report, alleging, among other things, that PharmaCielo’s “key operating property in Rionegro, Colombia” was sold “at a massive markup, allowing insiders to enrich themselves by an estimated $5.35 million.” The report also claims the Company’s purported greenhouse facilities on newly-purchased land is “nothing more than an empty field covered in weeds.”
On this news, the Company’s share price fell $0.4579 per share, or over 32%, to close at $0.9621 per share on March 2, 2020, thereby injuring investors.
If you purchased PharmaCielo 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 Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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