Case Background:
This is a federal securities class action on behalf of those who purchased or otherwise acquired CannTrust Holdings Inc. (“CannTrust”) securities between June 26, 2018 and September 17, 2019, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the company’s business, operations, and prospects. Specifically, the complaint alleges that Defendants failed to disclose to that: (1) the company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) the company’s Pelham greenhouse did not comply with certain regulations; (3) as a result, the company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, the company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) 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 at all relevant times.
Current Status of Case:
On December 26, 2023, Lead Plaintiff filed a Notice of Voluntary Dismissal. This action has concluded.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.