The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canopy Growth Corporation (NYSE: CGC) who purchased shares between September 8, 2017 and November 13, 2019. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the Canopy lawsuit alleges that (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) 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.
Shareholders have until January 21, 2020 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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