The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Canopy Growth Corporation (NASDAQ: CGC) who purchased securities between June 1, 2021 and May 10, 2023. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
In particular, the Canopy Growth lawsuit alleges that (i) issues with Canopy Growth’s BioSteel business, including, inter alia, aged inventory and overspending, had been significantly hampering the Company’s profitability; (ii) there were material weaknesses in the Company’s internal controls over accounting and financial reporting; (iii) as a result, the Company improperly booked sales of its BioSteel business unit; (iv) as a result, the Company’s revenue was overstated; and (v) 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 July 24, 2023 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.
To learn more and keep informed, complete this form >