LOS ANGELES–(BUSINESS WIRE)–$CRON #CLASSACTION–National class action law firm Glancy
Prongay & Murray LLP (“GPM”) reminds investors of the November
5, 2018 deadline to file a lead plaintiff motion in the class action
filed on behalf of investors that purchased Cronos Group, Inc. (“Cronos”
or the “Company”) (NASDAQ: CRON)
securities between August 21, 2018, and August 30, 2018, inclusive
(the “Class Period”). Cronos investors have until November 5,
2018 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
On August 30, 2018, Citron Research published an article entitled
“Cronos: The Dark Side of Cannabis Space,” alleging, among other things,
that the Company has been “deceiving the investing public by purposely
not disclosing the size of its distribution agreements with provinces –
unlike every other major cannabis player” and that this was because “the
agreements are so small that they could never justify the premium
investors are paying for the stock.” On this news, Cronos’ share price
fell $3.62 per share, or over $28%, to close at $9.12 per share on
August 30, 2018, on unusually heavy trading volume.
The complaint filed in this class action alleges that, throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company’s business, operations, and prospects. Specifically,
Defendants failed to disclose: (1) that the size of Cronos’ distribution
agreements with the provinces was relatively small; and (2) that, as a
result of the foregoing, Defendants’ positive statements about Cronos’
business, operations, and prospects were materially false and/or
misleading, and/or lacked a reasonable basis.
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If you purchased shares Cronos during the Class Period you may move the
Court no later than November 5, 2018 to ask the Court to appoint
you as lead. 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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jurisdictions under the applicable law and ethical rules.