NEW YORK, NY / ACCESSWIRE / May 20, 2020 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against the following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss, you can request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
The Complaint alleges that throughout the Class Period, defendants made false and misleading and/or failed to disclose that material adverse information. Specifically, the complaint alleges that GSX overstated numerous metrics including profitability, revenue, student enrollment, and overinflated other metrics like teacher qualifications, and that this pattern of inaccuracy would have a material impact on the Company's future financial results. The complaint continues to allege that based on these facts, the Company's public statements were false and materially misleading throughout the class period.
The Complaint alleges that throughout the Class Period, defendants made false and misleading and/or failed to disclose that material adverse information. Specifically, the complaint alleges that iAnthus revealed that it had failed to make certain interest payments, blaming its action on the "decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 due to the novel coronavirus." The complaint continues to state that iAnthus admitted it had begun an internal investigation of related party transactions involving CEO Hadley Ford. Following this news, iAnthus stock dropped over 62% that same day.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | email@example.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
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