The Law Offices of Vincent Wong announce that class action lawsuits have been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased CannTrust Holdings Inc. (NYSE: CTST) securities between November 14, 2018 and July 12, 2019.
According to the CannTrust lawsuits, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose 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 false and/or misleading and/or lacked a reasonable basis.
If you suffered a loss in CannTrust you have until September 9, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
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