Law Offices of Howard G. Smith Announces the Filing of a Securities Class Action on Behalf of 22nd Century Group, Inc. Investors (XXII)
BENSALEM, Pa.--(BUSINESS WIRE)--Jan 24, 2019--Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that acquired 22nd Century Group, Inc. (“22nd Century” or the “Company”) (NYSE American: XXII ) securities between February 18, 2016 and October 25, 2018, inclusive (the “Class Period”). 22nd Century investors have until March 22, 2019 to file a lead plaintiff motion.
On October 25, 2018, an article was published on Seeking Alpha, alleging that 22nd Century was under SEC investigation. On this news, the Company’s share price fell 4.3% to close at $2.45 per share on October 25, 2018, thereby injuring investors.
The complaint filed in this class action alleges that throughout the Class Period Defendants made materially false and 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.
If you purchased shares of 22nd Century, 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 firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190124005868/en/
CONTACT: Law Offices of Howard G. Smith
Howard G. Smith, Esquire
KEYWORD: UNITED STATES NORTH AMERICA PENNSYLVANIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES LEGAL
SOURCE: Law Offices of Howard G. Smith
Copyright Business Wire 2019.
PUB: 01/24/2019 08:29 PM/DISC: 01/24/2019 08:29 PM