According to the Complaint, Canopy Growth Corporation produces, distributes, and sells a diverse range of cannabis, hemp, and consumer packaged goods (“CPG”) products for recreational and medical use.

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 there were material weaknesses in the Company’s internal controls over accounting and financial reporting; (2) that, as a result, the Company improperly booked sales of its BioSteel business unit; (3) that, as a result, the Company’s revenue was overstated; and (4) 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.

On November 30, 2023, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. All future docketing was ordered to be done in the lead case 23-CV-04302.

Lead Plaintiff filed an amended Complaint on January 22, 2024. Defendants filed a Motion to Dismiss the amended Complaint on March 7. On July 17, the Court issued an Order granting Defendants' Motion to Dismiss. The Clerk of Court entered Judgment in favor of the Defendants on July 18, 2024.