Law Offices of Howard G. Smith announces that a class action lawsuit has been 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.
Investors that suffered losses on their Cronos investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to [email protected].
On August 30, 2018, Citron Research published a report alleging that Cronos management appears to have been deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces “ unlike every other major cannabis player . . . because the agreements are so small they could never justify the premium investors are paying for the stock. On this news, shares of Cronos has fallen as much as 26% during intraday trading on August 30, 2018, thereby injuring investors.
The complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Companys business, operational and compliance policies. Specifically, Defendants made false and/or misleading statements and/or failed to disclose that: (i) the size of Cronoss distribution agreements with Canadian provinces announced on August 21, 2018 was relatively small; and (ii) as a result, Cronoss public statements were materially false and misleading at all relevant times.
If you purchased shares of Cronos during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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