Canopy Growth Corporation
Lead Plaintiff Deadline: 01/20/2020
SUMMARY OF CASE:
A securities class action has been filed against Canopy Growth Corporation (CGC) on behalf of purchasers of the securities of Canopy Growth between June 21, 2019 through November 13, 2019. This case has been filed in the USDC – D.N.J.
The Complaint alleges defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose 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) due to the foregoing, defendants’ statements about Canopy’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.