Champignon Brands Inc.
Lead Plaintiff Deadline: 06/09/2021
SUMMARY OF CASE:
A securities class action has been filed against Champignon Brands Inc. (SHRMF) on behalf of purchasers of the securities of Champignon Brands between March 27, 2020 through February 17, 2021. This case has been filed in the USDC – C.D.CA.
The Complaint alleges thatdefendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Champignon had undisclosed material weaknesses and insufficient financial controls; (2) Champignon’s previously issued financial statements were false and unreliable; (3) Champignon’s earlier reported financial statements would need to be restated; (4) Champignon’s acquisitions involved an undisclosed related party; (5) as a result of the foregoing and subsequent reporting delays and issues, the British Columbia Securities Commission would suspend Champignon’s from trading; and (6) as a result, defendants’ statements about Champignon’s 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.