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CLASS ACTION UPDATE: Brodsky & Smith, LLC Announces Investigation of Securities Violations

BALA CYNWYD, PA / ACCESSWIRE / August 23, 2019 / Brodsky & Smith, LLC announces that it is investigating class action lawsuits against the following companies for violations of federal securities laws. If you purchased any of the below-listed stocks during the referenced time periods and want to discuss your legal rights, please contact Marc Ackerman, Esquire or Jordan Schatz, Esquire at 877-534-2590. There is no cost or financial obligation to you.

FRED’S, INC. (FRED)

Shares purchased between December 20, 2016 and June 28, 2017

Deadline: August 27, 2019

According to the complaint, defendants made numerous materially false and misleading statements concerning the level of regulatory risk faced by the Original Merger and the Revised Merger which would ultimately cause the termination of the Fred’s Asset Purchase Agreement. Specifically, Defendants made false and/or misleading statements: (i) downplaying or disputing contrary reports from journalists signaling regulatory turbulence in closing the merger; (ii) representing that inside knowledge of the FTC gave confidence that the deal would close.

Additional information can be found at: http://www.brodskysmith.com/cases/freds-inc-nasdaq-fred/, or call: 877-534-2590. No cost or obligation.

L BRANDS, INC. (LB)

Shares purchased between May 31, 2018 and November 19, 2018

Deadline: September 23, 2019

According to the complaint, L Brands, Inc. allegedly made materially false and/or misleading statements and/or failed to disclose that: (a) the Victoria’s Secret and PINK businesses were having a material adverse effect on the Company’s cash flow, liquidity and debt levels; (b) Defendants lacked a reasonable basis for their positive statements about the ability of the Company to sustain its dividend; (c) the MD&A disclosures in filings L Brands made with the SEC were materially false and misleading; (d) the risk factor disclosures in filings L Brands made with the SEC were materially false and misleading; (e) the representations about L Brands’ disclosure controls in filings the Company made with the SEC were materially false and misleading; (f) the certifications issued by Defendants Wexner and Burgdoerfer on L Brands disclosure controls were materially false and misleading; and (g) based on the foregoing, Defendants lacked a reasonable basis for their positive statements about L Brands’ then-current business operations and future financial prospects.

Additional information can be found at: http://www.brodskysmith.com/cases/l-brands-inc-nyse-lb/, or call: 877-534-2590. No cost or obligation.

CANNTRUST HOLDINGS INC. (CTST)

Shares purchased between November 14, 2018 and July 5, 2019

Deadline: September 9, 2019

According to the complaint, the defendants failed to disclose to investors that: (1) CannTrust was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) CannTrust’s Pelham greenhouse did not comply with certain regulations; (3) as a result, CannTrust was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) as a result, CannTrust’s customers would face shortages and would likely seek product from CannTrust’s competitors; and (5) as a result of the foregoing, the defendants’ positive statements about CannTrust’s business, operations, and prospects were materially false and/or misleading and/or lacked a reasonable basis.

Additional information can be found at: http://www.brodskysmith.com/cases/canntrust-holding-inc-nyse-ctst/, or call: 877-534-2590. No cost or obligation to you.

Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.

SOURCE: Brodsky & Smith, LLC



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