A lawsuit was filed on behalf of investors in CannTrust Holdings Inc. (NYSE: CTST) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/08/2019 -- An investor, who purchased shares of CannTrust Holdings Inc. (NYSE: CTST), filed a lawsuit over alleged violations of Federal Securities Laws by CannTrust Holdings Inc.
Investors who purchased shares of CannTrust Holdings Inc. (NYSE: CTST) have certain options and for certain investors are short and strict deadlines running. Deadline: September 03, 2019. NYSE: CTST investors should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
Vaughan, ON based CannTrust Holdings Inc. produces and distributes medical and recreational cannabis in Canada. On July 8, 2019, CannTrust Holdings Inc. disclosed that Health Canada found that its greenhouse facility in Pelham, Ontario, is non-compliant with certain regulations. As a result, Health Canada placed a hold on 5,200 kilograms of dried cannabis harvested from the unlicensed rooms, along with an additional 7,500 kilograms voluntarily held by the Company, until the facility becomes compliant.
The plaintiff claims that between November 14, 2018 and July 5, 2019, the Defendants failed to disclose to investors that the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending, that the Company's Pelham greenhouse did not comply with certain regulations, that, as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations, that, as a result, the Company's customers would face shortages and would likely seek product from CannTrust's competitors, and 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.
Those who purchased shares of CannTrust Holdings Inc. (NYSE: CTST) have certain options and should contact the Shareholders Foundation.
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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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