Investor Accuses Instadose Pharma Corporation of Securities Violations
The plaintiffs accuse the defendants of failing to conduct proper due diligence
On Thursday a case was filed in the Eastern District of Virginia by investor Michelle DeLuca as a class action against Instadose Pharma Corporation and its CEO Terry Wiltshire. The case alleges that false filings and other documents resulted in securities violations.
The complaint explained that corporation was originally known as Mikrocoze Inc. and was focused on selling furniture for small spaces. After the resignation of the then-treasurer, the corporation participated in a “Business Combination” merger under Canadian law with Instadose Canada, a corporation that focuses on selling pharmaceutical grade agricultural products including cannabis.
The plaintiffs accuse the defendants of failing to conduct proper due diligence regarding the impacts of a transnational merger on the company as well as failing to conduct proper due diligence regarding the state of Instadose Canada’s business including impermissible trading activities.
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