Shareholder Alert: Robbins LLP Informs Investors of Class Action Against Canopy Growth Corporation (CGC)
Benzinga Robbins LLP informs investors that a shareholder filed a class action on behalf of persons and entities that purchased or otherwise acquired Canopy Growth Corporation CGC securities between May 31, 2022 and May 10, 2023. Canopy Growth produces, distributes, and sells a diverse range of cannabis, hemp, and consumer packaged goods products for recreational and medical use.
For more information, submit a form, email Aaron Dumas, Jr., or give us a call (800) 350-6003.
What is this Case About: Canopy Growth Corporation (CGC) Must Restate its Financial Statements
According to the complaint, throughout the class period, defendants failed to disclose to investors: (1) that there were material weaknesses in the Company's internal controls over accounting and financial reporting; (2) that, as a result, the Company improperly booked sales of its BioSteel business unit; (3) that, as a result, the Company's revenue was overstated; and (4) that, 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.
