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Robbins Arroyo LLP: CV Sciences, Inc. (CVSI) Misled Shareholders According to a Recently Filed Lawsuit

December 5, 2018

SAN DIEGO & LAS VEGAS--(BUSINESS WIRE)--Dec 4, 2018--Shareholder rights law firm Robbins Arroyo LLP announces that a purchaser of CV Sciences, Inc. (Other OTC: CVSI) has filed a shareholder derivative complaint against the company’s officers and directors for alleged breaches of fiduciary duties from June 19, 2017 through the present. CV Sciences is a life science company that focuses on developing products using synthetic cannabidiol (“CBD”). The company’s lead product is known as CVSI-007, a chewing gum containing nicotine and CBD designed to aid in the cessation of smokeless tobacco use.

View this information on the law firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/cv-sciences-inc-dec-2018/

CV Sciences Accused of Failing to Inform Investors of Patent Rejection

According to the complaint, CV Sciences touted that CVSI-007 had a market estimated at “greater than $2 billion,” demonstrating the importance of CVSI-007 to the company’s operations. In 2016, CV Sciences filed a patent application with the U.S. Patent Trademark Office (“USPTO”) for CVSI-007. On December 14, 2017, the USPTO made a final rejection decision on the company’s patent, but CV Sciences never reported that the patent had been rejected and continued to represent that CVSI-007 was patent-protectable. On August 20, 2018, Citron Research reported CV Sciences’ failure to disclose the December 2017 final rejection of the patent. On this news, CV Sciences’ stock plunged over 36% to close at $4.21 per share on August 20, 2018, and has yet to regain its value.

CV Sciences Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm’s website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.

Attorney Advertising. Past results do not guarantee a similar outcome.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181204006186/en/

CONTACT: Robbins Arroyo LLP

Leonid Kandinov

LKandinov@robbinsarroyo.com

(619) 525-3990 or Toll Free (800) 350-6003

www.robbinsarroyo.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA NEVADA

INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL

SOURCE: Robbins Arroyo LLP

Copyright Business Wire 2018.

PUB: 12/04/2018 08:04 PM/DISC: 12/04/2018 08:04 PM

http://www.businesswire.com/news/home/20181204006186/en

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