NEW YORK, Oct. 15, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Sundial Growers Inc. (“Sundial” or the “Company”) (NASDAQ: SNDL). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether Sundial and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On or around August 1, 2019, Sundial completed its initial public offering (“IPO”), selling 11 million shares priced at $13.00 per share. Then, on August 19, 2019, MarketWatch reported that cannabis producer Zenabis Global Inc. had rejected a shipment of 554 kg of cannabis from Sundial “because it contained visible mold, parts of rubber gloves and other non-cannabis material, according to people familiar with the matter.” The same day, Sundial confirmed that it was resolving an “isolated immaterial matter between Sundial and a Licensed Producer.”
On this news, Sundial’s stock price fell $0.45 per share, or 4.31%, to close at $10.00 on August 20, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby