Pomerantz LLP announces that a class action lawsuit has been filed against Eco Science Solutions, Inc. (“Eco Science” or the “Company”) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, and docketed under 17-cv-03760, is on behalf of a class consisting of investors who purchased or otherwise acquired Eco Science securities, seeking to recover compensable damages caused by defendants’ violations of the Securities Exchange Act of 1934.
Eco Science Solutions, Inc. is a technology-focused company that provides solutions for the health and wellness industry. The Company provides enterprise software solutions and services including consumer apps, localized communication platforms between consumers and businesses, educational content, e-commerce platforms, and social networking services.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the Company’s plan for strategic acquisitions lacked veracity; and (ii) as a result, Defendants’ statements about the Company’s business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
On May 19, 2017, the Securities and Exchange Commission issued an order of suspension of trading, halting trading of the Company’s securities. To date, trading the Company’s securities remains halted, rending the Company’s securities illiquid and virtually worthless, thereby damaging investors.