NEW YORK, July 12, 2023 (GLOBE NEWSWIRE) -- Jakubowitz Law announces that a securities fraud class action lawsuit has commenced on behalf of shareholders of Canopy Growth Corporation (NASDAQ: CGC).
To receive updates on the lawsuit, fill out the form:
https://claimyourloss.com/securities/canopy-growth-class-action-loss-submission-form/?id=41992&from=3
The lawsuit seeks to recover losses for shareholders who purchased Canopy Growth between June 1, 2021 and May 10, 2023.
Shareholders interested in acting as a lead plaintiff representing the class of wronged shareholders have until July 24, 2023 to petition the court. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
According to a filed complaint, Canopy Growth Corporation issued materially false and/or misleading statements and/or failed to disclose that: (i) issues with Canopy Growth’s BioSteel business, including, inter alia, aged inventory and overspending, had been significantly hampering the Company’s profitability; (ii) there were material weaknesses in the Company’s internal controls over accounting and financial reporting; (iii) as a result, the Company improperly booked sales of its BioSteel business unit; (iv) as a result, the Company’s revenue was overstated; and (v) as a result of the foregoing, defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Jakubowitz Law is vigorous in pursuit of justice for shareholders who have been the victim of securities fraud. Attorney advertising. Prior results do not guarantee similar outcomes.
CONTACT:
JAKUBOWITZ LAW
1140 Avenue of the Americas
9th Floor
New York, New York 10036
T: (628) 895-0423
F: (212) 537-5887
