Frank R. Cruz Law Firm Announces Filing of Securities Class Action on behalf of RenovaCare, Inc. (RCAR) Investors – QNT Press Release


Frank R. Cruz Law Firm Announcing that it has filed a class action lawsuit on behalf of individuals and entities that have purchased or otherwise acquired RenovaCare, Inc. (“RenovaCare” or “Company”) (over-the-counter transactions: RCA) Securities between August 14, 2017 and May 28, 2021, Included (“Class Hours”). RenovaCare investors have until September 14, 2021 File the main plaintiff’s motion.

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On May 28, 2021, the U.S. Securities and Exchange Commission (“SEC”) issued a litigation notice stating that RenovaCare was accused of securities fraud. According to the US Securities and Exchange Commission’s complaint, between July 2017 and January 2018, the company’s controlling shareholder and chairman Harmel Rayat (“Rayat”) “arranged and prompted RenovaCare to pay for promotional activities aimed at increasing the company’s share price.” Specifically, “Rayat is closely involved in guiding the promotion and editing of promotional materials, and arranges to pay the publisher through consultants to conceal RenovaCare’s participation in the event.” When…

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