NEW YORK--(BUSINESS WIRE)--Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of 22nd Century Group, Inc. (NYSE: XXII) resulting from allegations that 22nd Century may have issued materially misleading business information to the investing public.
On October 25, 2018, a Seeking Alpha article reported that the Securities and Exchange Commission (“SEC”) might be actively investigating 22nd Century Group for its involvement in a potential pump and dump scheme. According to the article, a March 2018 exposé revealed that “[f]ake authors” wrote positive stories concerning 22nd Century. The article states that 22nd Century management “has still not explained who authorized or funded the positive articles” or “provided any reasoning for who else could be responsible for these tactics of having fake authors write positive articles.” On this news, shares of 22nd Century have fallen sharply during intraday trading on October 25, 2018.
Rosen Law Firm is preparing a class action lawsuit to recover losses suffered by 22nd Century investors. If you purchased shares of 22nd Century please visit the firm’s website at https://www.rosenlegal.com/cases-1435.html to join the class action. You may also contact Phillip Kim or Zachary Halper of Rosen Law Firm toll free at 866-767-3653 or via email at pkim@rosenlegal.com or zhalper@rosenlegal.com.
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Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 3 each year since 2013.
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