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LOS ANGELES, Sept. 26, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming October 4, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of Curaleaf Holdings, Inc. (“Curaleaf” or the “Company”) (OTC: CURLF) investors who purchased securities between November 21, 2018 and July 22, 2019, inclusive (the “Class Period”).
If you are a shareholder who suffered a loss, click here to participate.
If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to firstname.lastname@example.org, or visit our website at www.glancylaw.com.
On July 22, 2019, the Company received a warning letter from the FDA, which revealed that the Company was selling unapproved new and misbranded drugs for both human and animal consumption, as well as marketing CBD products improperly as dietary supplements.
On this news, shares of Curaleaf fell $0.58 per share, or over 7%, to close at $7.40 on July 23, 2019, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) that Curaleaf also sold unapproved animal drugs on its website; (3) that such conduct would result in a warning letter from the U.S. Food and Drug Administration ("FDA"); and (4) that as a result, defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased or otherwise acquired Curaleaf securities during the Class Period you may move the Court no later than October 4, 2019 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to email@example.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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