The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Greenlane Holdings, Inc. (NASDAQGM: GNLN) common stock purchased pursuant and/or traceable to the registration statement and prospectus issued in connection with the Company’s April 2019 initial public offering. The action, which was filed in the United States District Court for the Southern District of Florida, alleges that the Company violated federal securities laws.
In particular, the Greenlane lawsuit alleges that (1) the City of San Francisco had introduced a major initiative to ban the sale of e-cigarette products across three major cities and prohibit the manufacture of products at the headquarters of Greenlane’s key partner, JUUL Labs; (2) if approved, the initiative would materially and adversely impact the Company’s financial results and prospects; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
Shareholders have until November 12, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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