BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors who purchased Curaleaf Holdings, Inc. (“Curaleaf” or the “Company”) (OTC: CURLF) securities between November 21, 2018 and July 22, 2019, inclusive (the “Class Period”). Curaleaf investors have until October 4, 2019 to file a lead plaintiff motion.
Investors suffering losses on their Curaleaf investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
On July 22, 2019, the Company received a warning letter from the FDA, which revealed that the Company was selling unapproved new and misbranded drugs for both human and animal consumption, as well as marketing CBD products improperly as dietary supplements.
On this news, shares of Curaleaf fell $0.58 per share, or over 7%, to close at $7.40 on July 23, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) that Curaleaf also sold unapproved animal drugs on its website; (3) that such conduct would result in a warning letter from the U.S. Food and Drug Administration ("FDA"); and (4) that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
If you purchased shares of Curaleaf have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
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