iAnthus Capital Holdings, Inc. Securities Litigation
On or around 09/10/2020 (Date of last review)
Filing Date: April 15, 2020
According to the Complaint, iAnthus Capital Holdings, Inc. is a holding company and, “[t]hrough its wholly-owned subsidiaries, the Company’s principal business activity is to provide Shareholders with diversified exposure to best-in-class licensed cannabis cultivators, processors and dispensaries throughout the United States” by “acquir[ing] and operat[ing] a diversified portfolio of cannabis licenses and investments for Shareholders.”
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's ability to pay its interest obligations under various debenture agreements. As a result of Defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
This case was voluntarily dismissed on April 20, 2020. A related case continues under Docket 20-CV-03135. On July 9, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on September 4.
Company & Securities Information
Defendant: iAnthus Capital Holdings, Inc.
Industry: Biotechnology & Drugs
Headquarters: United States
Ticker Symbol: ITHUF
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.
First Identified Complaint
William Riback, et al. v. iAnthus Capital Holdings, Inc., et al.
COURT: S.D. New York
DOCKET #: 20-CV-03044
JUDGE: Hon. Naomi Reice Buchwald
DATE FILED: 04/15/2020
CLASS PERIOD START: 05/14/2018
CLASS PERIOD END: 04/06/2020
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Grabar Law Office
Rigrodsky & Long, P.A. (Garden City)
First Identified Complaint (FIC) Filings:
Class Action Complaint for Violation of the Federal Securities Laws
U.S. District Court Civil Docket
Plaintiff's Notice of Voluntary Dismissal
In re iAnthus Capital Holdings, Inc. Securities Litigation