On or around 01/18/2019 (Ongoing date of last review)
Filing Date: April 23, 2014
According to the law firm press release, the lawsuit asserts violations of the federal securities laws against CannaVEST and its officers and directors for issuing false and misleading statements about the Company’s financial condition. The Complaint alleges that CannaVEST overstated its sales for the quarter ended March 31, 2013 by more than 17% and misstated its goodwill at June 30, 2013 by more than 1300%.
On March 19, 2015, the Court appointed Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated Complaint on September 14. Defendants filed a Motion to Dismiss the Complaint on April 26, 2016. On March 31, 2018, the Court issued an Order granting in part and denying in part Defendants' Motion to Dismiss. On January 18, 2019, the Court issued an Order dismissing charges against one of the Individual Defendants.
Company & Securities Information
Defendant: CannaVEST Corp.
Industry: Major Drugs
Headquarters: United States
Ticker Symbol: CANV
Company Market: OTC-BB
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
First Identified Complaint
Tanya Sallustro, et al. v. CannaVEST Corp., et al.