Investors in marijuana multistate operator Canopy Growth Corp. sued the company last month to recover alleged damages following a poor quarterly earnings report.
The class-action lawsuit, filed by shareholders who purchased Canopy between May 30, 2024 and February 6, 2025, followed a sharp decline in the value of company stock following a Feb. 7 earnings call.
ADVERTISEMENT
At the heart of the investor dispute are allegations that Canopy downplayed the costs of launching a new pre-roll line and of acquiring a major vaporizer company.
According to court records, the complaint alleges that Canopy made false and misleading statements about its business, operations and prospects by failing to disclose :
Significant costs producing a line of pre-rolled joints under the Claybourne brand that launched
Read full article on Marijuana Business Daily
