Levi & Korsinsky, LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired Cronos Group, Inc. (NASDAQGM: CRON) securities.
If you suffered a loss on your investment and would like to explore a potential recovery under the federal securities laws, submit to us or contact Joseph E. Levi, Esq. via email at [email protected] or call 212-363-7500 to speak to our team of experienced shareholder advocates.
THE LAWSUIT: Aug 21 2018 - Aug 30 2018
CASE DETAILS:
(1) the size of Cronos’ distribution agreements with the Canadian provinces was relatively small; and (2) as a result of the foregoing, Defendants’ positive statements about Cronos’ business, operations, and prospects were materially false and/or misleading, and/or lacked a reasonable basis.
On August 30, 2018, Citron Research published an article entitled “Cronos: The Dark Side of Cannabis Space,” alleging, among other things, that the Company has been “deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player” and that this was because “the agreements are so small that they could never justify the premium investors are paying for the stock.” On this news, Cronos’ share price fell over 28%, to close at $9.12 per share on August 30, 2018.
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