The SEC stated, The public interest and the protection of investors require a suspension in the trading of the securities of Instadose Pharma Corp. (Instadose Pharma) (CIK No. 0001697587), a Nevada corporation whose principal place of business is listed as Chesapeake, Virginia, because of questions and concerns regarding the adequacy and accuracy of information about Instadose Pharma in the marketplace, including: (1) significant increases in the stock price and share volume unsupported by the company’s assets and financial information; (2) trading that may be associated with individuals related to a control person of Instadose Pharma; and (3) the operations of Instadose Pharma’s Canadian affiliate. As of November 19, 2021, the common stock of Instadose Pharma was quoted and traded on OTC Link whose parent company is OTC Markets Group Inc., under the symbol INSD, had seven market makers, and was eligible for the piggyback exception of Rule 15c2-11(f)(3) of the Securities Exchange Act of 1934 (Exchange Act). Following this news, Instadose stock price fell 13% on November 23, 2021.
Shareholder Rights Law Firm Johnson Fistel, LLP, is investigating possible claims against Instadose Pharma Corp. (Instadose or the Company) (OTC:INSD) for violations of federal securities laws. On November 23, 2021, the Securities and Exchange reported an impermanent suspension in trading the stock.
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