LOS ANGELES, May 03, 2019 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against KushCo Holdings, Inc. (“KushCo” or “the Company”) (OTC: KSHB) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company's shares between July 13, 2017 and April 9, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before July 1, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. KushCo made material errors in accounting for its acquisition of CMP Wellness, Summit, and Hybrid. Due to these errors, the Company’s financial statements for fiscal years 2017 and 2018, along with its quarterly reports during those years, could not be relied upon. In fact, KushCo’s net loss for fiscal year 2018 was more than twice as high as was reported in its financial statement. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about KushCo, investors suffered damages.
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