I've seen this beforeIt won't be the first time these kind of law firms try to initiate a class action lawsuit. You can bet that when one shows up others will follow. They run in packs.
I know that the company has received short notice what these people are up to but in the past when faced with these kinds of events the companies involved that I am familiar with would issue a statement to the market first vehemently denying the claims made against them and then put the law firms on notice that they will strongly defend themselves should it progress to a court of law. That implies that those shady law firms and their supposed complaining " investors " could be held liable for damages to Namaste if a judge so rules.
That's what's missing here. Namaste has to release a terse legal statement before markets open on Tuesday whereby they challenge the class action lawsuit's credibility and declare that they will vigorously defend themselves in court.
I can't stress enough that there can be no delay on this. They can not leave the impression that there is some truth to the charges by remaining silent. In cases like this silence is not golden, it is self destructive. If you are a shareholder call or e-mail management and express your desire that a response be crafted without delay. They fire a bullet at you, respond back with a cannonball.