Kessler Topaz Meltzer & Check, LLP, a Philadelphia-based law firm, announced Tuesday (July 16) that a securities fraud class action lawsuit has been filed in the United States District Court for the Southern District of New York against CannTrust Holdings (NYSE:CTST,TSX:TRST). The lawsuit is being filed on behalf of those who purchased CannTrust securities between November 14, 2018 and July 5, 2019 amidst questions surrounding CannTrust’s illegal growing operations.
As quoted in the press release:
According to the complaint, CannTrust is a licensed producer and distributor of medical and recreational cannabis.
The Class Period commences on November 14, 2018, when CannTrust announced its third quarter 2018 financial results in a press release.
According to the complaint, on July 8, 2019, CannTrust disclosed that its greenhouse facility in Pelham, Ontario is non-compliant with certain regulations, and that CannTrust was growing cannabis in unlicensed rooms between October 2018 and March 2019.
The complaint alleges that, throughout the Class Period, the defendants failed to disclose to investors that: (1) CannTrust was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) CannTrust’s Pelham greenhouse did not comply with certain regulations; (3) as a result, CannTrust was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, CannTrust’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, the defendants’ positive statements about CannTrust’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.
Both locations expand access to the state’s widest-ranging inventory of medical cannabis products for Central Florida patients
Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of two brand-new Central Florida dispensaries. The new Clearwater and Tampa locations mark the Company’s 81 st and 82 nd nationwide, respectively, widening patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.
Philip Young, CEO and Director of Lobe, stated, “We are honored to welcome Bart to our Advisory Board. His first-hand experience on and off the field are tremendously valuable as we continue our research involving mild traumatic brain injuries and PTSD. These issues are prevalent in contact sports and we believe that athletes will play a prominent role in the continued acceptance of psychedelic medicines as legitimate treatment. We look forward to working with Bart as we seek to forge long-term strategic relationships.”
HempFusion Wellness Submits Novel Foods Dossier to the United Kingdom’s Regulatory Food Safety Agency
HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that it has submitted its dossier to the United Kingdom’s Regulatory Food Safety Agency (the “FSA”).
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