NEW YORK, April 23, 2014 (GLOBE NEWSWIRE) -- The Rosen Law Firm, P.A. today announced that it has filed a class action lawsuit on behalf of purchasers of CannaVEST Corp. (OTCBB:CANV) common stock during the period from May 20, 2013 through April 3, 2014, seeking to recover damages for CannaVEST shareholders for violations of the federal securities laws.
To join the CannaVEST class action, visit the firm's website at http://rosenlegal.com, or call Phillip Kim, Esq. or Yu Shi, Esq. toll-free, at 866-767-3653; you may also email pkim@rosenlegal.com or yshi@rosenlegal.com for information on the class action. The lawsuit filed by the firm is pending in the U.S. District Court for the Southern District of New York.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY CHOOSE TO DO NOTHING AT THIS POINT AND REMAIN AN ABSENT CLASS MEMBER.
The lawsuit 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 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%.
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 Phillip Kim, Esq. or Yu Shi, Esq. of The Rosen Law Firm, toll-free, at 866-767-3653, or via e-mail at pkim@rosenlegal.com or yshi@rosenlegal.com. You may also visit the firm's website at http://rosenlegal.com. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation.