NEW YORK, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Zhang Investor Law announces the filing of a class action lawsuit on behalf of shareholders who bought shares of 22nd Century Group, Inc. (XXII) from February 18, 2016 through October 25, 2018, inclusive (the “Class Period”). The lawsuit seeks to recover damages for 22nd Century Group investors under the federal securities laws.
If you wish to serve as lead plaintiff, you must move the Court no later than March 22, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, http://zhanginvestorlaw.com/join-action-form/?slug=22nd-century-group-inc&id=1749 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email firstname.lastname@example.org, email@example.com for information on the class action.
According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) 22nd Century’s stock was prone to manipulation through paid stock promotions; (2) such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission (the “SEC”); and (3) consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.A class has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
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