CannTrust Holdings Inc. Securities Litigation

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Lawsuit Overview

Defendant:CannTrust Holdings Inc.
Date Filed:July 10th, 2019
Sector:Consumer Durables
Industry:Specialty Chemicals
Class Start Date:November 14th, 2018
Class End Date:July 12th, 2019

According to the Complaint, CannTrust is purportedly a licensed producer and distributor of medical and recreational cannabis.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, the Complaint alleges Defendants failed to disclose to investors: (1) that the Company was growing cannabis in its Pelham greenhouse while applications for regulatory approval were still pending; (2) that the Company's Pelham greenhouse did not comply with certain regulations; (3) that, as a result, the Company was reasonably likely to face an inventory hold by Health Canada until the Pelham facility becomes compliant with applicable regulations; (4) that, as a result, the Company's customers would face shortages and would likely seek product from CannTrust's competitors; and (5) that, as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

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First Identified Complaint

Chun Huang, et al. v. CannTrust Holdings Inc., et al.

Date Filed:July 10th, 2019
Class Period Start:November 14th, 2018
Class Period End:July 12th, 2019
First Identified Complaint Filings
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