Wolf Haldenstein Obtains $1.7 million Settlement for Taronis Technologies, Inc. Shareholders
Wolf Haldenstein Adler Freeman & Herz LLP is pleased to announce the settlement of the securities litigation on behalf of investors of Taronis Technologies Inc. On November 23, 2020, Chief United States District Judge for the District of Arizona preliminarily approved the $1.7 million settlement resolving investor claims that Taronis Technologies Inc. and its directors engaged in a fraudulent scheme to inflate the market price of the company’s common stock by announcing the purported existence of a material contract with a municipal entity that was later revealed to not exist. The complaint alleges that the false announcement was made in part to boost the company’s common stock price to prevent the company from being de-listed from the Nasdaq stock exchange. The complaint asserts claims under Sections 10(b) and 20(a) the Securities Exchange Act of 1934 and is on behalf of all purchasers or acquirers of Taronis common stock between January 28, 2019 and February 12, 2019. Wolf Haldenstein serves as lead counsel for the investors in the litigation.
Information about participating in the settlement is available here.