Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of New Jersey on behalf of shareholders of Canopy Growth Corporation who purchased shares between June 21, 2019 and November 13, 2019.
Canopy Growth and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On November 14, 2019, pre-market, the Company announced its 2Q2019 results including a larger-than-expected loss for the quarter, a restructuring charge of $32.7 million.
On this news, the price of Canopy Growth’s shares plummeted.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until January 20, 2020 to request that the court appoint them lead plaintiff.