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Case Status:    ONGOING    
On or around 11/19/2018 (Ongoing date of last review)

Filing Date: August 24, 2018

On August 24, 2018, Plaintiff's law firm issued a press release announcing the law suit. According to the press release, on August 20, 2018, Citron Research published a report on twitter alleging that CV Sciences' management misrepresented the status of one of its key patents. According to Citron Research, the Company failed to disclose a rejected patent that the Company "continue[d] to hype." As a result of the Citron report, CV Sciences stock plunged over 63% in volatile trading.

The Complaint alleges that during the Class Period, Defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, Defendants failed to disclose that its Patent #15/426,617: (1) received a non-final rejection from the USPTO on April 27, 2017; (2) a final rejection from the USPTO on December 14, 2017; and (3) as a result of the foregoing, Defendants' statements about CV Sciences' business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.

On November 15, 2018, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. The consolidated cases are to be captioned "In re: CV Sciences, Inc. Securities Litigation."

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: CVSI
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.
COURT: D. Nevada
DOCKET #: 18-CV-01602
JUDGE: Hon. Jennifer A. Dorsey
DATE FILED: 08/24/2018
CLASS PERIOD START: 06/19/2017
CLASS PERIOD END: 08/20/2018
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Block & Leviton LLP
    155 Federal Street, Suite 1303, Block & Leviton LLP, MA 02110
    (617) 398-5600 (617) 507-6020 ·
  2. Leverty & Associates, Chtd.
    832 Willow St. , Leverty & Associates, Chtd. , NV 89502
    775-322-6636 775-322-3953 ·
No Document Title Filing Date
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—Related District Court Filings Data is not available