On or around 07/11/2019 (Ongoing date of last review)
Filing Date: July 10, 2019
According to the Complaint, CannTrust is purportedly a licensed producer and distributor of medical and recreational cannabis.
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 Defendants failed to disclose to investors: (1) that the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) that the Company’s Pelham greenhouse did not comply with certain regulations; (3) that, 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) that, as a result, the Company’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) that, 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.
Company & Securities Information
Defendant: CannTrust Holdings Inc.
Industry: Biotechnology & Drugs
Ticker Symbol: CTST
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
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First Identified Complaint
Chun Huang, et al. v. CannTrust Holdings Inc., et al.
COURT: S.D. New York
DOCKET #: 19-CV-06396
JUDGE: Hon. J. Paul Oetken
DATE FILED: 07/10/2019
CLASS PERIOD START: 11/14/2018
CLASS PERIOD END: 07/05/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Glancy Prongay & Murray LLP (New York) 122 East 42nd Street, Suite 2920 , Glancy Prongay & Murray LLP (New York), NY 10168 (212) 682-5340 (212) 884-0988 ·