| Company: | HydroFlo, Inc. |
| Ticker Symbol: | OTC BB: HYRF |
| Class Period: | July 18, 2005 to October 26, 2005 |
| Date Filed: | Nov-23-05 |
| Lead Plaintiff Deadline: | Jan-22-06 |
| Court: | Eastern District, NC |
| Allegations: |
A class action lawsuit has been filed on behalf of all investors who purchased common stock of HydroFlo, Inc. (the "Company" or "HydroFlo") (OTC BB: HYRF) during the period from July 18, 2005 through October 26, 2005, inclusive (the "Class Period").
The complaint charges that the defendants violated sections 10(b) and 20(a) of the Exchange Act by issuing a series of false and misleading press releases to the market during the Class Period. The complaint alleges that HydroFlo issued several materially false and misleading press releases concerning the Company's Metals & Arsenic Removal Technology, Inc. (MARTI) and Advance Water Recycle Inc., (AWRI) wholly owned portfolio companies. The complaint charges that the defendants misrepresented the type, terms, amendments, demand, and revenue projections from certain agreements between MARTI and EYI Industries and its subsidiaries during the Class Period. In addition, the complaint alleges that defendants misrepresented the existence and nature of certain agreements with government entities involved in the Hurricane Katrina relief effort. As a result of the Company's materially false and misleading statements to the market, according to the complaint, the price of HydroFlo stock was artificially inflated in the Class Period.
The lawsuit, civil action no. 4:05 CV 152-F3, is pending in the United District Court for the Eastern District of North Carolina, Eastern Division against defendant HydroFlo and certain of its officers and directors. The case is assigned to United States District Judge James C. Fox.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The complaint charges that the defendants violated sections 10(b) and 20(a) of the Exchange Act by issuing a series of false and misleading press releases to the market during the Class Period. The complaint alleges that HydroFlo issued several materially false and misleading press releases concerning the Company's Metals & Arsenic Removal Technology, Inc. (MARTI) and Advance Water Recycle Inc., (AWRI) wholly owned portfolio companies. The complaint charges that the defendants misrepresented the type, terms, amendments, demand, and revenue projections from certain agreements between MARTI and EYI Industries and its subsidiaries during the Class Period. In addition, the complaint alleges that defendants misrepresented the existence and nature of certain agreements with government entities involved in the Hurricane Katrina relief effort. As a result of the Company's materially false and misleading statements to the market, according to the complaint, the price of HydroFlo stock was artificially inflated in the Class Period.
The lawsuit, civil action no. 4:05 CV 152-F3, is pending in the United District Court for the Eastern District of North Carolina, Eastern Division against defendant HydroFlo and certain of its officers and directors. The case is assigned to United States District Judge James C. Fox.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Register your Securities Complaint
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have a lawyer review your securities complaint.At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
Stay Informed
Get the latest on class action lawsuits, settlements & more! Subscribe to our free weekly newsletter.
Get our Newsletter!
Submit a New Complaint
Been wronged by a similar product or service?
Click here to send us your complaint.
