BOSTON, March 20, 2020 (GLOBE NEWSWIRE) -- Yesterday, the Wall Street Journal reported that the United States Securities and Exchange Commission asked Cronos Group, Inc. (NASDAQ: CRON) to preserve documents relating to its past accounting treatment. Block & Leviton LLP (www.blockesq.com), a National Securities Litigation law firm, is investigating whether Cronos misled its shareholders. Investors who have lost money should contact the Firm for a free case evaluation.
In the past two months, Cronos has twice delayed the filing of its 2019 financial results. On March 2, 2020 the Company advised investors that its Audit Committee was investigating “several bulk resin purchases and sales of products through the wholesale channel and the appropriateness of the recognition of revenue from those transactions." And, on March 16, 2020, Cronos told investors not to rely on previously issued 2019 financial results. The SEC is now also apparently investigating Cronos’ accounting for the same reasons as the Audit Committee.
A shareholder class action has been filed against Cronos for investors who bought the stock between May 9, 2019 and March 2, 2020. If you bought Cronos stock during this period on the NASDAQ, contact us to learn about your rights and ways you might recover your losses. Any investor may seek to be a lead plaintiff in the lawsuit, and must file a motion with the court no later than May 11, 2020.
“When a company may have issued misleading financial results, it deceives investors about the company’s true worth and investors are harmed. We focus on recovering investors’ losses in these types of egregious circumstances,” said Mark Delaney, the Block & Leviton attorney leading the investigation.
If you purchased or otherwise acquired Cronos common stock on NASDAQ and have questions about your legal rights, or possess information relevant to this matter, you are encouraged to contact attorney Mark Delaney at (617) 398-5600, by email at mdelaney@blockesq.com, or by visiting https://shareholder.law/cases/?case=cronos. Confidentiality for whistleblowers is assured.
Block & Leviton is a firm dedicated to representing investors and maintaining the integrity of the country’s financial markets. The firm represents many of the nation's largest institutional investors and individual investors in securities litigation throughout the United States. Its lawyers have recovered billions of dollars for its clients.
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CONTACT:
BLOCK & LEVITON LLP
Mark Delaney
(617) 398-5600 phone
260 Franklin Street, Suite 1860
Boston, MA 02110
mdelaney@blockesq.com