SAN FRANCISCO, July 12, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP, with nine offices in eight cities around the country and eighty attorneys, reminds investors in CannTrust Holdings Inc. (CTST) of the Lead Plaintiff deadline in the securities class action, Huang v. CannTrust Holdings Inc. et al., No. 1:19-cv-06396, filed in the U.S. District Court for the Southern District of New York and updates investors concerning recent news.
If you purchased or otherwise acquired CannTrust securities between November 14, 2018 and July 5, 2019 (the “Class Period”) and suffered losses you do not need to sign up to be included in the putative class of investors.
If you suffered significant losses (in excess of $50,000), you may qualify to be a lead plaintiff – one who selects and oversees the attorneys prosecuting the case. If you wish to serve as a lead plaintiff in this class action, you must move the Court no later than September 9, 2019 (the “Lead Plaintiff deadline”). Contact Hagens Berman immediately for more information about the case and being a lead plaintiff:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
According to the complaint, Defendants misrepresented and concealed that CannTrust was growing cannabis in its Pelham, Ontario greenhouse facility in five unlicensed rooms between October and March 2018, and that the Company was providing inaccurate information to Canadian regulator (Health Canada).
On July 8, 2019, the market began to learn the truth when Defendants disclosed that Health Canada found that the Pelham greenhouse facility was 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 and on an additional 7,500 kilograms voluntarily held by the Company.
Most recently, on July 11, 2019, Defendants announced CannTrust (1) suspended sales and shipments of all of its cannabis products and (2) established a special committee to investigate the matter in its entirety.
“We’re focused on investors’ losses and whether Defendants misrepresented and concealed CannTrust’s compliance with applicable laws and regulations,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding CannTrust should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email CTST@hbsslaw.com.
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Reed Kathrein, 510-725-3000