CBC (Canadian Broadcasting Corp) Counts 9 US Law Firms Pursuing Class Actions Agaianst Canadian Listed Cannabis Companies

CBC (Canadian Broadcasting Corp) Counts 9 US Law Firms Pursuing Class Actions Agaianst Canadian Listed Cannabis Companies

The Canadian Broadcasting Corporation reports on the flood of upcoming lawsuits being filed against Canadian listed cannabis companies.”Although the allegations vary, each pot producer is accused of misleading investors or failing to disclose certain problems with their businesses. When those problems became publicly known, the lawsuits claim, share prices plunged and investors were stuck with losses.”   CBC report… Some of Canada’s biggest cannabis producers are facing proposed class-action lawsuits in the United States after investors were hit with steep financial losses in the stock market. At least nine U.S. law firms are pursuing cases against Canopy Growth, Aurora Cannabis and Hexo Corp. in American courts. Although the allegations vary, each pot producer is accused of misleading investors or failing to disclose certain problems with their businesses. When those problems became publicly known, the lawsuits claim, share prices plunged and investors were stuck with losses. “[Investors] are mad; they were taken by surprise,” said Reed Kathrein, a lawyer at Hagens Berman Sobol Shapiro LLP, which is pursuing claims against all three producers. None of the allegations have been proven in court. Each of the companies declined to be interviewed for this story. Canopy and Aurora denied the allegations in brief statements,…

Excerpt only …
READ MORE BELOW
Source : CANNANNEW REPORT
Link to original : CBC (Canadian Broadcasting Corp) Counts 9 US Law Firms Pursuing Class Actions Agaianst Canadian Listed Cannabis Companies
reposted by Cannabis News World

This site uses Akismet to reduce spam. Learn how your comment data is processed.