Lost Money in Cronos Group, Inc.?

CANNANNEW REPORT

Gibbs Law Group Investigates Potential Securities Law Violations OAKLAND, Calif.–(BUSINESS WIRE)–$CRON #CRON–Shares of Cronos Group Inc. dropped 15% on November 9, 2021, after the company announced in an SEC filing that it would be required to restate its financial statements for the three and six months ended June 30, 2021, and that it should have taken an impairment charge of at least $220 million for that same period. Cronos’ price dropped another 5% on November 19, 2021 after announcing it had received a non-compliance delinquency letter from Nasdaq due to its untimely Form 10-Q filing. Gibbs Law Group is investigating a potential Cronos Securities Class Action Lawsuit on behalf of shareholders who lost money in Cronos Group Inc. (NASDAQ: CRON). To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925. On Tuesday, November 9, 2021, shares of cannabis company Cronos Group dropped sharply announcing that it would not file its quarterly report for the period ended Sept. 30, 2021, in a timely manner. That same day, Cronos disclosed in an SEC filing that it would be required to restate its unaudited interim financial statements for the three and six months ended June 30, 2021, previously filed in a Form 10-Q. In the 8-K filing, Cronos further admitted that it “should have recorded an impairment charge of not less than $220 million on goodwill and indefinite-lived intangible assets in its U.S. reporting unit” for the three and six months ended June 30, 2021. According to the filing, Cronos concluded that the financial statements for this period “should no longer be relied on.” Following this news, Cronos’ stock price plummeted more than 15% in intraday trading on November 9, 2021, causing significant harm to investors. What Should Cronos Investors Do? If you invested in Cronos,…

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