The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Cronos Group Inc. (NASDAQ: CRON) who purchased shares between May 9, 2019 and March 2, 2020. The action, which was filed in the United States District Court for the Eastern District of New York, alleges that the Company violated federal securities laws.
In particular, the Cronos lawsuit alleges that (i) Cronos had engaged in significant transactions for which its revenue recognition was inappropriate; (ii) the foregoing would foreseeably necessitate reviews that would delay the Company’s ability to timely file its periodic reports; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until May 11, 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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