Initial Lawsuit
First Complaint - 12/30/2021This is a federal securities class action on behalf of a class consisting of all persons and entities other than defendants that purchased or otherwise acquired Instadose securities between December 8, 2020 and November 24, 2021, both dates inclusive.
- Filing Date
12/30/2021 - Class Period
12/08/2020 to 11/24/2021 - Transgression
Securities Violation - Filing Firms
Cohen Milstein Sellers & Toll PLLC
Pomerantz LLP - Case Title
Deluca v. Instadose Pharma Corp. et al - Docket Number
2:21-cv-00675 - Court
Virginia Eastern District Court - Free File
Complaint
Allegations
According to the complaint, defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, defendants allegedly failed to disclose to investors that:
(i) Instadose (formerly Mikrocoze, Inc.) had performed inadequate due diligence into the business combination with Instadose Pharma Corp. and/or ignored significant red flags associated with Instadose Pharma Corp.;
(ii) Instadose’s internal controls and policies were inadequate to detect and/or prevent impermissible trading activity by control persons of the
company;
(iii) the foregoing subjected Instadose to a heightened risk of regulatory scrutiny and enforcement action; and
(iv) as a result, the company’s public statements were materially false and misleading at all relevant times.
Defendants
- Company
Instadose Pharma Corp. (formerly Mikrocoze, Inc.) - President
Terry Wilshire
