On or around 06/04/2020 (Date of last review)
Filing Date: November 20, 2019
According to the Complaint, Canopy, together with its subsidiaries, engages in engages in production, distribution, and sale of cannabis in Canada.
The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) due to the foregoing, Defendants’ statements about Canopy’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On February 10, 2020, the Court issued an Order appointing Co-Lead Plaintiffs and Co-Lead Counsel. The Co-Lead Plaintiffs filed an amended Complaint on June 4.
Company & Securities Information
Defendant: Canopy Growth Corporation
Industry: Biotechnology & Drugs
Ticker Symbol: CGC
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
Eduardo Ortiz, et al. v. Canopy Growth Corporation, et al.
COURT: D. New Jersey
DOCKET #: 19-CV-20543
JUDGE: Hon. Kevin McNulty
DATE FILED: 11/20/2019
CLASS PERIOD START: 06/21/2019
CLASS PERIOD END: 11/13/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
The Rosen Law Firm (South Orange)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violations of the Federal Securities Laws
Stipulation and Order Appointing Co-Lead Plaintiffs and Approving Co-Lead Counsel
U.S. District Court Civil Docket
Anthony Sultan, et al. v. Canopy Growth Corporation, et al.