The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Southern District of New York on behalf of investors who purchased Cronos Group, Inc. (NASDAQGM: CRON) securities between August 21, 2018 and August 30, 2018.
According to the Cronos lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (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.
If you suffered a loss in Cronos you have until November 5, 2018 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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