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OTC: NXTTF Shareholders Notice: Lawsuit Alleges Misleading Statements by Namaste Technologies Inc.

Via: ReleaseWire

Updated 2:03 PM CDT, Tue, October 16,2018

A lawsuit was filed on behalf of investors in Namaste Technologies Inc. (OTC: NXTTF) shares over alleged securities laws violations.

San Diego, CA -- (SBWIRE) -- 10/16/2018 -- The Shareholders Foundation announces that an investor, who purchased shares of Namaste Technologies Inc. (OTC: NXTTF), filed a lawsuit over alleged violations of Federal Securities Laws by Namaste Technologies Inc.

Investors who purchased shares of Namaste Technologies Inc. (OTC: NXTTF), have certain options and for certain investors are short and strict deadlines running. Deadline: December 5, 2018. OTC: NXTTF investors should contact the Shareholders Foundation at or call +1(858) 779 - 1554.

According to the complaint the plaintiff alleges on behalf of purchasers of Namaste Technologies Inc. (OTC: NXTTF) common shares between November 29, 2017 and October 4, 2018, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 29, 2017 and October 4, 2018, the defendants made false and/or misleading statements and/or failed to disclose that Namaste Technologies Inc. had sold its wholly-owned U.S. subsidiary to Namaste executives, that consequently, Namaste Technologies Inc. did not sell its U.S. subsidiary in an arm's length transaction, and that as a result, defendants' statements about the company's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On October 4, 2018, Citron Research published a report titled, "Namaste: Citron has exposed complete FRAUD that underpins the 'Business' of Namaste," stating that CEO "[Sean] Dollinger said he sold [an] asset to an arm's length party…but it was really sold to David Hughes who has been with Namaste since Feb 2015 (and Paul Burn who has been with Namaste since 2016)." The report further states that "Namaste has lied to its shareholders, Canadian Regulators, US Regulators; and most of all has attempted to hide US assets from the Justice Department in an attempt to obtain a US listing."

Those who purchased shares of Namaste Technologies Inc. (OTC: NXTTF) have certain options and should contact the Shareholders Foundation.

Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739

The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

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Media Relations Contact
Michael Daniels
Email: Click to Email Michael Daniels