NEW YORK, April 29, 2014 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed on behalf of all persons who purchased or otherwise acquired the securities of CannaVEST Corp. ("CannaVEST" or the "Company") (Pink Sheets:CANV) during the period from May 20, 2013 through April 3, 2014 (the "Class Period").
The Complaint asserts violations of the federal securities laws against CannaVEST and its officers and directors for issuing false and misleading statements about the Company's financial condition. The Complaint further alleges that CannaVEST overstated its sales for the quarter ended March 31, 2013 by more than 17% and misstated its goodwill at June 30, 2013 by more than 1300%. Recently, the Company announced that it has filed restated financial statements and accompanying management's discussion and analysis for the quarters ended March 31, June 30, and September 30, 2013.
If you wish to serve as lead plaintiff, you must move the Court no later than June 23, 2014. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at email@example.com or firstname.lastname@example.org.
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