BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of the upcoming October 4, 2019 deadline to file a lead plaintiff motion in the class action 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”).
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 email@example.com.
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 during the Class Period you may move the Court no later than October 4, 2019 to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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