Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Taronis Technologies, Inc. (f/k/a MagneGas Applied Technology) (TRNX)

Globe Newswire 16-Apr-2019 7:00 PM

NEW YORK, April 16, 2019 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Taronis Technologies, Inc. (f/k/a MagneGas Applied Technology) ("Taronis" or the "Company") (NASDAQ:TRNX) in the United States District Court for the Middle District of Florida on behalf of those who purchased or acquired the securities of Taronis between January 28, 2019 through February 12, 2019, inclusive (the "Class Period"), seeking to recover damages caused by Defendants' violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and Rule 10b-5 promulgated thereunder.

The Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (1) Taronis did not have a contract with the City of San Diego; (2) Taronis and its management had engaged in a scheme to defraud; and (3) that as a result of the foregoing, Taronis' public statements were materially false and misleading at all relevant times.  When the true details entered the market, the lawsuit claims that investors suffered damages.

Investors who purchased or otherwise acquired shares during the Class Period should contact the Firm prior to the June 14, 2019 lead plaintiff motion deadline.  A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.  If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.