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Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against The Crypto Company (CRCW)

NEW YORK, Dec. 22, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against The Crypto Company (“Crypto Company” or the “Company”) (OTC:CRCW) in the United States District Court for the Central District of California on behalf of a class consisting of investors who purchased or otherwise acquired Crypto Company securities on the open market from August 21, 2017 through December 18, 2017, inclusive (the “Class Period”), seeking to recover compensable damages caused by Defendants’ violations of the Securities Exchange Act of 1934.

On December 19, 2017, the Securities and Exchange Commission (“SEC”) temporarily suspended trading in the securities of the Crypto Company until January 3, 2018 after shares had risen more than 17,000% in less than three months.  The SEC stated there were “concerns regarding the accuracy and adequacy of information in the marketplace” about compensation paid for promotion of the Company and statements in SEC filings about plans of company insiders to sell their shares of Crypto Company’s common stock.  The SEC also announced that questions have arisen concerning potentially manipulative transactions in Crypto Company’s stock in November 2017.

According to the lawsuit, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) Crypto Company unlawfully engaged in a scheme to promote and manipulate the Company’s stock; and (2) as a result, Crypto Company’s public statements were materially false and misleading at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the February 20, 2018 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.

/EIN News/ --

Distribution channels: Consumer Goods, Law