On or around 10/22/2020 (Date of last review)
Filing Date: March 11, 2020
According to the Complaint, Cronos Group Inc., formerly known as PharmaCan Capital Corp., is a principal investment firm. Cronos seeks to invest in companies either licensed, or actively seeking a license, to produce medical marijuana pursuant to Canada’s Marihuana for Medical Purposes Regulations (MMPR). The Company typically invests in companies based in Canada.
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company’s business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cronos had engaged in significant transactions for which its revenue recognition was inappropriate; (ii) the foregoing would foreseeably necessitate reviews that would delay the Company’s ability to timely file its periodic reports; and (iii) as a result, the Company’s public statements were materially false and misleading at all relevant times.
On October 22, 2020, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel.
Company & Securities Information
Defendant: Cronos Group Inc.
Industry: Biotechnology & Drugs
Ticker Symbol: CRON
Company Market: NASDAQ
Market Status: Public (Listed)
About the Company & Securities Data
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