Glancy Prongay & Murray LLP Reminds Investors of the Deadline in the Class Action Lawsuit Against 22nd Century Group, Inc. (XXII)
LOS ANGELES, March 21, 2019 (GLOBE NEWSWIRE) -- Glancy Prongay & Murray LLP (“GPM”) reminds investors of the March 22, 2019 deadline to file a lead plaintiff motion in the class action filed on behalf of investors that purchased 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.
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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; and (3) consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
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If you purchased shares of 22nd Century Group, Inc., you may move the Court no later than March 22, 2019 to ask the Court to appoint you as lead plaintiff. 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 firstname.lastname@example.org, 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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