SAN DIEGO, Nov. 28, 2023 (GLOBE NEWSWIRE) -- via IBN -- Astra Energy Inc. (OTCQB: ASRE) (“Astra” or the “Company”), announces today that it has retained toxic dilution funding expert attorney Mark R. Basile, Esq. and his RICO and securities litigation firm, The Basile Law Firm P.C. The services to be provided include investigating recent activities surrounding the company’s stock performance and any potential RICO and Securities violations claims for all fundings taken by prior management over the last four years.
Mr. Basile, a former law professor, has engaged in litigation on behalf of public companies for the last 12 years. In 2021, his firm secured a landmark decision against dilution funder Adar Bays that has set the standard to save hundreds of public companies tens of millions of dollars. Since that decision, his firm has vacated several federal trial court judgments. His firm has also won every substantive usury-based appeal it has brought within the Circuit Courts of Appeals, reversing many prior decisions of the federal lower courts on these issues.
His firm is also pursuing several RICO investigations and actions against known dilution funders and the Southern District of New York (Judge Lorna Schofield) recently denied a dilution funders motion to dismiss RICO claims based on a dilution funding transaction, another first in the country. Additionally, The Basile Law Firm P.C. is also the first law firm in the country to secure a landmark decision against an unregistered dilution funder, canceling all that funder’s securities and voiding the underlying transaction(s). The firm publishes articles and advice for companies that believe they may be victims of dilution funders, counterfeit shares and market manipulation by brokers, investment relation firms and short-sellers, a summary of which can be found at: https://www.thebasilelawfirm.com/blog
Ron Loudoun, CEO of Astra Energy, Inc., said: “We are pleased to welcome Mr. Basile and his law firm, The Basile Law Firm P.C., to investigate claims of potential naked short selling of our security in connection to any prior dilution funding taken by the company. Mr. Basile, a RICO and Securities dilution funding expert has now been added to our top litigation team of attorneys and will be leading that part of our investigation and efforts.”
About Astra Energy Inc.
Astra Energy Inc. is an integrated solutions provider investing in and developing clean and renewable energy projects in markets where demand is high, supply is limited and there is an opportunity to address other imminent market needs.
Astra’s corporate strategy is rooted in securing technologies and assets; identifying viable market opportunities; and bringing together resources, expertise, technology, and defined action plans to execute first-in-class projects that benefit communities, local economies, the planet, and the Company’s investors.
Its goal is to create a more secure and sustainable power sector that supports the Company’s purpose, mission, and values to transform the economic, environmental, and social landscape for generations to come.
For more information on Astra Energy Inc., visit the Company’s website at www.astraenergyinc.com.
CAUTIONARY STATEMENT CONCERNING FORWARD-LOOKING STATEMENTS
This document contains forward-looking statements. In evaluating these forward-looking statements, readers should consider various factors, including the Company’s ability to change its direction, its ability to keep pace with new technology and changing market needs, and the competitive environment of its business. These and other factors may cause the Company’s actual results to differ materially from any forward-looking statement.