According to the Complaint, Curaleaf Holdings, Inc. ("Curaleaf") purports to operate as an integrated medical and wellness cannabis operator in the United States.

The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration; and (4) as a result, Defendants' statements about its business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On November 7, 2019, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on January 6, 2020. Defendants filed a Motion to Dismiss the amended Complaint on March 6. On February 16, 2021, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.