The Law Offices of Vincent Wong announce that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of investors who purchased KushCo Holdings, Inc. (OTCMKTS: KSHB) securities between July 13, 2017 and April 9, 2019.
According to the KushCo lawsuit, throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (i) KushCo made material accounting errors in connection with its acquisitions of CMP Wellness, Summit, and Hybrid; (ii) as a result, KushCo’s previously issued financial statements as of and for the fiscal years ended August 31, 2018 and August 31, 2017, included in the Company’s Annual Reports on Form 10-K for such periods, and financial statements as of and for the quarterly periods ended May 31, 2017, November 30, 2017, February 28, 2018, May 31, 2018 and November 30, 2018, included in the Company’s Quarterly Reports on Form 10-Q for such periods, could not be relied upon; (iii) KushCo’s net loss for the fiscal year ended August 31, 2018, was more than twice as high than previously reported; (iv) KushCo and its management’s assurances that its financial statements for those fiscal years and periods were accurate and fairly reported could not be relied upon; and (v) as a result, the Company’s public statements were materially false and misleading at all relevant times.
If you suffered a loss in KushCo you have until July 1, 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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