LEAD PLAINTIFF DEADLINE ALERT: Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Cronos Group, Inc. To Contact The Firm
NEW YORK--(BUSINESS WIRE)--Sep 17, 2018--Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Cronos Group Inc. (“Cronos” or the “Company”) (NASDAQ:CRON) of the November 5, 2018 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Cronos stock or options between August 21, 2018 and August 30, 2018 and would like to discuss your legal rights, click here:www.faruqilaw.com/CRON. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to .
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Cronos securities between August 21, 2018 and August 30, 2018 (the “Class Period”). The case, Chanda v. Cronos Group, Inc. et al, No. 1:18-cv-08047 was filed on September 4, 2018 and has been assigned to Judge Naomi Reice Buchwald.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose: (1) that the size of Cronos’s distribution agreements with the provinces was relatively small; and (2) that, as a result of the foregoing, the Company’s positive statements about its business, operations, and prospects, were materially false and/or misleading.
Specifically, on August 30, 2018, Citron Research published an article alleging that Cronos failed to disclose the size of its distribution agreements with various Canadian provinces. The article further claimed that the size of these agreements was kept hidden because they were too small to justify the Company’s stock price.
Following the publication of this article, Cronos’s share price fell from $12.74 per share on August 29, 2018 to a closing price of $9.12 on August 30, 2018—a $3.62 or a 28.41% drop.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Cronos’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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SOURCE: Faruqi & Faruqi, LLP
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PUB: 09/17/2018 03:16 PM/DISC: 09/17/2018 03:16 PM