Market News

Pomerantz LLP is investigating claims on behalf of investors of Cronos Group Inc. . Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.The investigation concerns whether Cronos and certain of its officers andor directors have engaged in securities fraud or other unlawful business practices. [Click here for information about joining the class action] On ...

Pomerantz LLP is investigating claims on behalf of investors of Cronos Group Inc. ("Cronos" or the "Company") (NASDAQ: CRON). Such investors are advised to contact Robert S. Willoughby at newaction@pomlaw.com or 888-476-6529, ext. 7980.

The investigation concerns whether Cronos and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

[Click here for information about joining the class action]

On November 9, 2021, Cronos filed a Form 8-K with the U.S. Securities and Exchange Commission, stating that "[o]n November 8, 2021, Cronos Group Inc. . . . determined that it will be required to restate its previously issued unaudited interim financial statements for the three and six months ended June 30, 2021 previously filed on Form 10-Q on August 6, 2021" and advising that "[t]he Company's financial statements for this period should therefore no longer be relied upon." Cronos further stated that "[t]he Company concluded that it should have recorded an impairment charge of not less than $220 million on goodwill and indefinite-lived intangible assets in its U.S. reporting unit for the three and six months ended June 30, 2021. The Company will restate its unaudited interim financial statements for the three and six months ended June 30, 2021, accordingly." According to Cronos, the Company "is also evaluating whether to record an additional impairment in the three and nine months ended September 30, 2021."

On this news, Cronos's stock price fell $1.01 per share, or 15.05%, to close at $5.70 per share on November 9, 2021.

The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.

CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
888-476-6529 ext. 7980

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/105489

News Provided by Newsfile via QuoteMedia

Trulieve Announces Resale Registration Statement Filings

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced that it publicly filed a resale registration on Form S-1 (the "Registration Statement") with the United States Securities and Exchange Commission ("SEC") on January 21, 2022 to register for resale Subordinate Voting Shares of the Company issued as consideration for previously announced 2021 acquisitions.

Keep reading... Show less

Harvest and Trulieve Celebrate One Year Anniversary of Recreational Cannabis Sales in Arizona

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) ("Trulieve" or "the Company"), a leading and top-performing cannabis company in the United States today announced plans to celebrate the one year anniversary of recreational cannabis sales in Arizona through a series of in-store activations, product specials and celebrations. All Trulieve-affiliated Harvest locations will have doorbuster deals on January 21 - 22 and the company will host a rooftop event at The Clarendon Hotel on Saturday, January 22 .

Keep reading... Show less
Little Green Pharma logo

LGP Signs Exclusive Distribution Agreement With Pharmaserve Hellas

Greece added to rapidly expanding EU distribution portfolio. LGP now has distribution agreements in 5 EU territories including France, Denmark, Germany, Poland and Greece.

Little Green Pharma Ltd (ASX: LGP, “LGP” or the “Company”) is pleased to announce its entry into an exclusive agreement with PharmaServe Hellas SMSACI (“PharmaServe”) for the distribution of LGP-branded oil medicines and cannabis flower in Greece (“Agreement”).

Keep reading... Show less
Numinus Wellness Inc. Reports Q1 2022 Results

Numinus Wellness Inc. Reports Q1 2022 Results

  • Ended quarter with strong cash position of $53.9 million
  • Revenues grew 245% year-over-year to $0.8 million for the quarter
  • Generated gross profit of $50,965 during the quarter, representing a 6.5% gross margin
  • Well-positioned to offer psychedelic-assisted psychotherapy services through Canada's newly expanded Special Access Program
  • Clinical trial application made to Health Canada to begin Phase 1 study for proprietary psilocybe extract
  • MAPS-sponsored MDMA-Assisted Therapy for PTSD study to begin shortly; approvals received from Health Canada and the Institutional Review Board

All financial results are reported in Canadian dollars unless otherwise stated.

Numinus Wellness Inc. ("Numinus" or the "Company") (TSX: NUMI) (OTC: NUMIF), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced its fiscal first quarter results for the three months ended November 30, 2021 .

Keep reading... Show less
AYURCANN HOLDINGS CORP. UPDATE FOR 2022

AYURCANN HOLDINGS CORP. UPDATE FOR 2022

Ayurcann Holdings Corp. ( CSE: AYUR OTCQB: CDCLF FSE: 3ZQ0 ) (the " Company "), a leading Canadian cannabis extraction company specializing in the processing and co-manufacturing of pharma grade cannabis and hemp to produce various derivative cannabis 2.0 products in the medical and recreational market, is pleased to provide an update to its exponential growth throughout Canada.

Ayurcann Market segments

Keep reading... Show less

Curaleaf Opens Two New Pennsylvania Dispensaries

New locations in Greensburg and Wayne expand the Company's retail presence to 14 locations in one of the country' s largest medical markets

Curaleaf Holdings, Inc . (CSE: CURA OTCQX: CURLF) ("Curaleaf" or the "Company"), a leading international provider of consumer products in cannabis, today announced plans to open two new dispensaries in Pennsylvania . Curaleaf's latest locations in Greensburg and Wayne will increase the Company's retail footprint to 14 dispensaries statewide and 125 across the country. Two additional locations, Curaleaf Erie (7891 Peach St.) and Curaleaf State College (1248 S Atherton St.), are expected to open by the end of February, pending regulatory approval.

Keep reading... Show less

Latest Press Releases

Related News

×