LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation on behalf of Cronos Group Inc. ("Cronos" or the "Company") (NASDAQ: CRON) investors concerning the Company and its officers’ possible violations of federal securities laws.
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On March 2, 2020, after the market closed, Cronos disclosed an Audit Committee review of revenue recognition of “several bulk resin purchases and sales of products through the wholesale channel.” As a result, Cronos delayed the filing of its annual report for fiscal 2019 and revealed that it expected to report a material inventory write-down for fiscal 2019.
On this news, the Company’s shares fell more than $0.82, or over 13%, during intraday trading on March 3, 2020, thereby injuring investors.
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If you purchased Cronos securities, 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 Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.
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