According to the lawsuit, during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that:
- Canopy Growth had incurred significant costs producing Claybourne Co. (“Claybourne”) pre-rolled joints in connection with the Claybourne product launch in Canada;
- the foregoing costs, in addition to certain indirect costs that Canopy Growth incurred in connection with its Storz & Bickel vaporizer devices, were likely to have a significant negative impact on the Canopy Growth’s gross margins and overall financial results;
- accordingly, defendants had overstated the efficacy of Canopy Growth’s cost reduction measures and the health of its gross margins while downplaying issues with the same; and
- as a result, defendants’ public statements were materially false and misleading at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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