A lawsuit was filed on behalf of investors in Cronos Group Inc. (NASDAQ: CRON) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 09/11/2018 -- An investor, who purchased shares of Cronos Group Inc. (NASDAQ: CRON), filed a lawsuit over alleged violations of Federal Securities Laws by Cronos Group Inc.
Investors who purchased shares of Cronos Group Inc. (NASDAQ: CRON) have certain options and for certain investors are short and strict deadlines running. Deadline: November 5, 2018. NASDAQ: CRON investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The plaintiff claims that between August 21, 2018, and August 30, 2018, the 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 that the size of Cronos' distribution agreements with the provinces was relatively small, and that, as a result of the foregoing, Defendants' positive statements about Cronos' business, operations, and prospects were materially false and/or misleading, and/or lacked a reasonable basis.
On August 30, 2018,the managing editor of Citron Research("Citron") published a report entitled "Cronos: The Dark Side of The Cannabis Space" wherein he detailed a series of allegedly alarming red flags about Cronos Group Inc.
Specifically, Citron states that "Cronos management appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player", the Citron report further claims, "our sources have informed us that it's because the agreements are so small they could never justify the premium investors are paying for the stock".
Those who purchased shares of Cronos Group Inc. (NASDAQ: CRON) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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