On or around 01/03/2020 (Date of last review)
Filing Date: January 21, 2019
According to the Complaint, 22nd Century Group, Inc. ("22nd Century" or the "Company") provides technology that increases or decreases the nicotine levels and other nicotinic alkaloids in tobacco plants, and cannabinoids in hemp/cannabis plants through genetic engineering and plant breeding.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) 22nd Century’s stock was prone to manipulation through paid stock promotions; (2) such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and (3) consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On August 1, 2019, the Court issued an Order appointing Lead Plaintiffs and Counsel. On September 6, the Court issued an Order transferring the case to the Western District of New York. On November 19, Lead Plaintiffs filed an amended Complaint.
Company & Securities Information
Defendant: 22nd Century Group, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: XXII
Company Market: New York SE
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
Matthew Bull, et al. v. 22nd Century Group, Inc., et al.