Publicly available records indicate that a class action lawsuit has been filed on behalf of investors in Taronis Technologies (NASDAQ:TRNX) in connection to alleged violations of securities laws by TRNX. Fitapelli Kurta is interested in hearing from investors who have complaints regarding investments made in Taronis Technologies between January 28, 2019 and February 12, 2019.
The class action complaint specifically alleges that during the period in question, TRNX provided false and/or misleading material information and/or failed to disclose adverse material information to the public, namely: that the company had no contract with San Diego; that the company as well as its managing officers participated in a scheme to defraud other parties; and that consequently the company’s statements to the public during the relevant period were false and misleading. The complaint alleges that when true facts emerged, investors suffered losses.
According to the company’s website, Taronis Technologies is a technology company that “owns a patented plasma arc technology that enable two end use applications for fuel generation and water decontamination.” Its product allows for the conversion of waste streams based on hydrocarbons to be converted into “fossil fuel substitutes.” Taronis Technologies is also involved in the development of market uses for those fossil fuel products, including propane replacements and natural gases. The company’s wholly owned distributors include ESSI, Green Arc Supply, Paris Oxygen, and Trico Welding Supply. The company trades on the Nasdaq exchange under the symbol TRNX.