NEW YORK, Sept. 6, 2018 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of CV Sciences, Inc. ("CV Sciences" or the "Company") (CVSI). Investors who purchased CV Sciences common stock between June 19, 2017 and August 20, 2018 (the "Class Period") may be affected. A complaint has been filed in the United States District Court for the District of Nevada against CV Sciences and certain executives on behalf of investors that acquired CV Sciences common stock during the Class Period.
According to the complaint, on April 27, 2017, the U.S. Patent and Trademark Office ("USPTO") made a non-final rejection decision on the Company's patent application for CVSI-007, titled "Pharmaceutical Formulations Containing Cannabidiol and Nicotine for Treating Smokeless Tobacco Addiction" (the "Patent") and mailed CV Sciences a letter indicating the non-final rejection status of its Patent on June 6, 2017.
Further, according to the complaint, on December 14, 2017, the USPTO made a final rejection decision on the Company's Patent and mailed CV Sciences a letter indicating the final rejection status of its Patent on December 20, 2017.
Then, according to the complaint, on August 20, 2018, Citron Research ("Citron") published a report, via Twitter, exposing CV Sciences' failure to disclose the final rejection of its Patent on December 14, 2017 and the mailed notice of final rejection on December 20, 2017.
Following this news, CV Sciences stock price fell about $2.40 per share, or approximately 36.3%, from its closing price of $6.61 per share the prior trading day (August 17, 2018) to close at $4.20 per share on August 20, 2018.
If you are a member of the proposed Class, you may move the court no later than October 23, 2018 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing email@example.com or by calling 800-290-1952.
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Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, the action, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
Fax: (212) 687-7714
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California 94104
Fax: (415) 772-4707