National class action law firm Glancy Prongay & Murray LLP (GPM) reminds investors of the November 5, 2018 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased Cronos Group, Inc. (Cronos or the Company) (NASDAQ: CRON) securities between August 21, 2018, and August 30, 2018, inclusive (the Class Period). Cronos investors have until November 5, 2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to participate.
On August 30, 2018, Citron Research published an article entitled Cronos: The Dark Side of Cannabis Space, alleging, among other things, that the Company has been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces “ unlike every other major cannabis player and that this was because the agreements are so small that they could never justify the premium investors are paying for the stock. On this news, Cronos share price fell $3.62 per share, or over $28%, to close at $9.12 per share on August 30, 2018, on unusually heavy trading volume.
The complaint filed in this class action alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Companys business, operations, and prospects. Specifically, Defendants failed to disclose: (1) that the size of Cronos distribution agreements with the provinces was relatively small; and (2) that, as a result of the foregoing, Defendants positive statements about Cronos business, operations, and prospects were materially false and/or misleading, and/or lacked a reasonable basis.
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If you purchased shares Cronos during the Class Period you may move the Court no later than November 5, 2018 to ask the Court to appoint you as lead. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [email protected], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.
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