NEW YORK, Oct. 30, 2018 (GLOBE NEWSWIRE) -- Levi & Korsinsky announces it has commenced an investigation of India Globalization Capital, Inc. (“India Globalization” or “the Company”) ( American: IGC) concerning possible violations of federal securities laws.
On October 29, 2018 India Globalization announced that Regulation would begin the process of delisting the Company and trading would halt immediately. According to India Globalization, the stock is being halted pursuant to Section 1003(c)(i) of the American Company Guide which states that when a company “has substantially discontinued the business that it conducted at the time it was listed or admitted to trading, and has become engaged in ventures or promotions which have not developed to a commercial stage or the success of which is problematical, it shall not be considered an operating company for the purposes of continued trading and listing on the Exchange.” In addition, Regulation “also considered Section1003(f) (iii) because the Company or its management have engaged in operations which, in the opinion of the Exchange, are contrary to the public interest. Section 1009(a) (ii) of the Company Guide states that it is necessary and appropriate for the protection of investors to immediately suspend trading in the Company’s common stock.” To obtain additional information, go to:
https://www.zlk.com/pslra-1/india-globalization-capital-inc-loss-form
or contact Joseph E. Levi, Esq. either via email at [email protected] or by telephone at (212) 363-7500, toll-free: (877) 363-5972.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut and Washington D.C. The firm’s attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities and shareholder lawsuits. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
