The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Verus International, Inc. (Other OTC: VRUS) who purchased shares between June 17, 2019 and November 8, 2020. The action, which was filed in the United States District Court for the District of Maryland, alleges that the Company violated federal securities laws.
In particular, the Verus International lawsuit alleges that (i) Verus lacked the requisite resources, infrastructure and/or expertise to exploit its Big League Foods brand and its MLB license; (ii) the company’s issues in production ramp-up were not fully resolved to enable the company to fulfill customer orders; (iii) as a result, the company’s prospects and outlook were not as represented; (iv) the company’s internal controls for financial reporting and accounting were not sufficient with specific respect to stock-based compensation and classification of equity instruments; (v) as a result, the company’s financial results, outlook and prospects were materially worse than represented; and (vi) as a result of the foregoing, the company’s public statements were materially false and misleading at all relevant times.
Shareholders have until June 22, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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