NEW YORK, March 11, 2021 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims on behalf of shareholders who sold their Organigram Holdings, Inc. (NASDAQ: OGI) shares on Wednesday, March 10, 2021 after hearing the news that BMO Capital Markets analyst, Tamy Chen, cut her recommendation on Organigram Holdings, Inc. to underperform from market perform. The new price target on Organigram Holdings was cut to $2.00 CDN ($1.59 US) per share.
On this news, the shares closed at $2.89 US per share.
If you sold U.S. exchange listed shares of Organigram Holdings, please call Gregory Stone at (800) 575-0735 or (212) 545-4774, or email to gstone@whafh.com.
The following day, Thursday, March 11th, British American Tobacco Plc announced it would acquire a stake of almost 20% in Organigram Holdings, Inc., its biggest expansion into cannabis market. The companies will collaborate on product development and
focus on next-generation cannabis products, they said in joint statements Thursday. The financial adviser to Organigram Holdings is none other than BMO Capital Markets, the same firm which downgraded the price target just one day earlier.
On this news, shares of Organigram Holdings have traded as high as $3.99 US intraday.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this investigation or have any questions regarding your rights and interests in this matter, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Kevin Cooper, Esq.
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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