Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired CannTrust Holdings Inc. (“CannTrust”) (NYSE: CTST) 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.