Shareholders are urged to contact Wolf Haldenstein Adler Freeman & Herz LLP
NEW YORK, Sept. 24, 2019 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it is investigating potential claims on behalf of purchasers of investigating potential claims against Sundial Growers Inc. (“Sundial” or the “Company”) (NASDAQ: SNDL). This investigation concerns whether Sundial has violated federal securities laws and/or engaged in other unlawful business practices.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Gregory Stone at Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at firstname.lastname@example.org or visit our website at www.whafh.com.
Sundial Growers Inc. operates as a pharmaceutical company. The Company produces and grows a range of cannabis strains. Sundial Growers serves customers in Canada.
On August 1, 2019, Sundial closed its initial public offering (“IPO”), in which it sold 11 million shares at $13.00 per share for gross proceeds of $143 million. In the Registration Statement for the IPO, the Company stated that it produces “produce high-quality, consistent cannabis.”
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, the Company confirmed that it was resolving an “isolated immaterial matter between Sundial and a Licensed Producer.”
Since the IPO, Sundial’s shares have traded as low as $6.89 per share, or 47% below the $13 per share offering price.
Wolf Haldenstein Adler Freeman & Herz LLP has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
Wolf Haldenstein Adler Freeman & Herz LLP
Gregory Stone, Director of Case and Financial Analysis
Kevin Cooper, Esq.
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