NEW YORK, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising--(PR Newswire)--Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Cronos Group, Inc. (“Cronos” or the “Company”) (NASDAQ: CRON) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Cronos securities between August 21, 2018, and August 30, 2018, both dates inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: http://www.bgandg.com/cron.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and/or failed to disclose that: (1) the size of Cronos’ distribution agreements with the provinces was relatively small; and (2) consequently, Defendants’ positive statements about Cronos’ business, operations, and prospects were materially false and/or misleading, and/or lacked a reasonable basis.
On August 30, 2018, Citron Research published a report called “Cronos: The Dark Side of Cannabis Space,” alleging that Cronos has been “deceiving the investing public by purposely not disclosing the size of its distribution agreements with provinces – unlike every other major cannabis player” because “the agreements are so small that they could never justify the premium investors are paying for the stock.” Following this news, Cronos stock dropped $3.62 per share, or over $28%, to close at $9.12 on August 30, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: http://www.bgandg.com/cron or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Cronos you have until November 5, 2018 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com