San Diego, CA -- (SBWire) -- 04/19/2023 --Bright Green Corporation is under investigation over potential securities laws violations in connection with certain financial statements .
Investors who purchased shares of Bright Green Corporation (NASDAQ: BGXX), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Bright Green Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On June 2, 2022, Green Market Report ("Green Market") published a report entitled "Bright Green Former CEO Claims Valuation Fraud," which stated that the Company "involves a burned-down building, a years-long battle with the state of New Mexico, a bankruptcy case, and an angry former CEO who is accusing the company of fraud." John Stockwell, listed CEO in 2017, filed for bankruptcy in the state of New Mexico in 2017. After a greenhouse fire "devastated Stockwell financially," the reported stated that "greenhouses were transferred to Lynn Stockwell who then transferred the property to Bright Green." In addition, the report stated that Bright Green's former CEO John Fikany is suing the company, alleging "Bright Green was a "sham, operated illegally and fraudulently." He alleges that the Stockwells "engaged in acts of fraudulent misrepresentation and attempted to force Fikany to aid and abet them in making fraudulent misrepresentations to investors concerning the valuation and progress of Bright Green Corporation."
Shares of Bright Green Corporation (NASDAQ: BGXX) declined to as low as $0.35 per share in late December 2022.
Those who purchased shares of Bright Green Corporation (NASDAQ: BGXX) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:BGXX Investor Notice: Investigation over Possible Securities Laws Violations by Bright Green Corporation
An investigation for investors in Bright Green Corporation (NASDAQ:BGXX) shares over potential securities laws violations by Bright Green Corporation was announced.