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Robbins Arroyo LLP: Namaste Technologies, Inc. (NXTTF) Misled Shareholders According to Class Action

V.LFST | October 29, 2018

Robbins Arroyo LLP: Namaste Technologies, Inc. (NXTTF) Misled Shareholders According to Class Action

Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Namaste, Inc. (OTC: NXTTF) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between November 29, 2017 and October 4, 2018. Namaste is a cannabis e-commerce company.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/namaste-technologies-inc/

Namaste Accused of Making Materially False and Misleading Statements

On November 28, 2017, Namaste announced that it had signed a stock purchase agreement to sell its wholly owned U.S. subsidiary, Dollinger Enterprises US Inc., in order to focus on the legal cannabis markets. According to the complaint, Namaste failed to disclose that it had sold Dollinger to Namaste insider executives. On October 4, 2018, Citron Research published an article revealing that the company had entered into an "undisclosed related party" transaction with Namaste executive David Hughes. On this news, shares of Namaste stock fell over 10.5% on October 5, 2018.

Namaste Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.

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