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Growlife Inc (OTC:PHOT) Investor Files Lawsuit Over Alleged Breaches Of Fiduciary Duties Against Directors

  • If you purchased shares of Growlife Inc (OTCBB:PHOT), you may have certain options. Please contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
Growlife Inc
Security
OTC: PHOT

Case Name
Growlife Shareholder Deriviative Lawsuit 08/15/2014
Type of Lawsuit
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Summary

August 26, 2014 (Shareholders Foundation) - An investor who currently holds shares of Growlife Inc (OTC:PHOT) filed a lawsuit against certain directors of Growlife Inc over alleged breaches of fiduciary duties. The plaintiff alleges that certain executives at Growlife Inc allegedly manipulated Growlife Inc’s share price to issue below-market shares to insiders, then dumped millions of shares in the market just before Growlife Inc was suspended from trading.

On April 10, 2014, the Securities and Exchange Commission (“SEC”) temporarily suspended trading of GrowLife securities for 10 market days. The SEC said that it was suspending the trading because of concerns regarding the accuracy and adequacy of information.