OAKLAND, Calif.--(BUSINESS WIRE)--Gibbs Law Group announces that a class action lawsuit was filed on behalf of investors of CannTrust (NYSE: CTST) who purchased shares between November 14, 2018 and July 5, 2019. The lawsuit seeks to recover CannTrust investors’ losses.
Did you lose money in CannTrust? To speak privately with an attorney regarding this class action lawsuit, call (800) 808-5294 or visit CannTrust Class Action Lawsuit.
The class action lawsuit alleges:
- CannTrust was growing cannabis in an unlicensed facility while applications for approval were pending;
- CannTrust’s facility did not comply with regulations;
- CannTrust was likely to face an inventory hold until its facility becomes compliant with regulations;
- Because of the hold on inventory, CannTrust customers would face shortages and seek out CannTrust competitors;
- Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 8, 2019, multiple news outlets reported that Canadian regulators found CannTrust was growing cannabis in unlicensed rooms, and that CannTrust employees had provided false information to regulators.
Following this news, shares of CannTrust Holdings plummeted more than 22% on July 8, 2019, causing significant harm to investors.
If you lost money in CannTrust Holdings, you have until September 9, 2019 to request that the Court appoint you as lead plaintiff. You do not need to be a lead plaintiff in order to share in any recovery.
To speak privately with a securities attorney to learn more about your legal rights, visit our website or contact our securities team directly at (800) 808-5294.
About Gibbs Law Group
Gibbs Law Group represents individual and institutional investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Top Class Action Attorneys Under 40,” “Consumer Protection MVP,” and “Top Cybersecurity/ Privacy Attorneys Under 40.”
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