Curaleaf Holdings, Inc.
Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of shareholders that purchased or acquired shares of Curaleaf Holdings Inc. (“Curaleaf” or the “Company”) between November 21, 2018 and July 22, 2019, inclusive.
If you purchased Curaleaf securities, and/or would like to discuss your legal rights and options, please click “Join Class Action” above.
New York, New York — Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of shareholders that purchased or acquired shares of Curaleaf Holdings Inc. (“Curaleaf” or the “Company”) (OTC BB: CURLF) between November 21, 2018 and July 22, 2019, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Eastern District of New York alleging violations of the Securities Exchange Act of 1934.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration (“FDA”); and (4) as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 22, 2019, the FDA sent a warning letter to Curaleaf. The warning letter noted that Curaleaf was selling unapproved new and misbranded drugs, improperly marketing its CBD products as dietary supplements, and selling unapproved new animal drugs in violation of the Federal Food, Drug, and Cosmetic Act.
On this news, shares of Curaleaf fell $0.58 per share or 7.27% to close at $7.40 per share on July 23, 2019.
If you wish to serve as lead plaintiff, you must move the court no later than October 4, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you take no action, you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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Matthew E. Guarnero
Bernstein Liebhard LLP