Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the Eastern District of New York on behalf of shareholders of Trulieve Cannabis Corp. who purchased shares between September 25, 2017 and December 17, 2019.
Trulieve and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On December 17, 2019, a report published by Grizzly Research highlighted a range of allegations against the Company including that most of its cultivation space consisted of hoop houses that produce low quality output,” extensive ties between Trulieve and FBI corruption probes, that the Company’s initial license approval “stinks of corruption,” and undisclosed related party transactions.
On this news, the price of Trulieve’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 February 28, 2020 to request that the court appoint them lead plaintiff.