CannTrust Holdings Class Action Lawsuit
Girard Sharp has jointly filed a class action lawsuit with Gibbs Law Group following recent reports that CannTrust Holdings may have operated a cannabis facility without proper licensure. On news of the licensing issues and government scrutiny, the trading price of CannTrust’s stock (NYSE Ticker: CTST) declined substantially. Access a copy of the complaint here.
If you invested in CannTrust Holdings between November 14, 2018 and July 5, 2019, you may have a claim. Speak with a Girard Sharp investment fraud attorney about your legal rights at 415.981.4800 or by submitting your information below:
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CannTrust Under Review
CannTrust is a Canada-based producer of medical and recreational cannabis. According to two recent lawsuits filed in the wake of the news concerning CannTrust’s licensing issues, from November 14, 2018 to July 5, 2019, CannTrust represented that it was a licensed producer of medical and recreational cannabis in Canada and that it maintained all necessary licensing.
According to the suits, while CannTrust represented that its facilities were licensed, unbeknownst to investors the company was allegedly growing cannabis in five unlicensed rooms from October 2018 through March 2019, causing the company’s facilities to be noncompliant with certain Canadian regulations. The company is also alleged to have shipped unlicensed cannabis in violation of the Canadian Cannabis Act.
On July 8, when CannTrust disclosed this news, its share price fell more than 22% to close at $3.83 per share. On July 23, the company’s share price declined by another 20% on reports that the CEO and Chairman of CannTrust, along with other top executives, allegedly knew of the illegal grows.
If you invested in CannTrust Holdings between November 14, 2018 and July 5, 2019, you may have a claim. Speak with a Girard Sharp investment fraud attorney about your legal rights at 415.981.4800 or by submitting your information above.
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Girard Sharp has earned national Tier 1 rankings for Mass Tort and Class Action Litigation and has been named to the U.S. News – Best Lawyers “Best Law Firms” list each year since 2013. Read about some of our results.
We have recovered over a billion dollars for our clients against some of the nation’s largest corporations, such as Raymond James, Peregrine Financial Group, and OppenheimerFunds, in cases arising from securities fraud, false advertising and other unfair business practices.
For a free consultation about your potential claims, contact one of our investment fraud attorneys at (415) 981-4800.