Cronos Group Inc. Securities Litigation (2020)

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Lawsuit Overview

Defendant:Cronos Group Inc.
Date Filed:March 11th, 2020
Sector:Consumer Durables
Industry:Specialty Chemicals
Class Start Date:May 9th, 2019
Class End Date:March 2nd, 2020

According to the Complaint, Cronos Group Inc., formerly known as PharmaCan Capital Corp., is a principal investment firm. Cronos seeks to invest in companies either licensed, or actively seeking a license, to produce
medical marijuana pursuant to Canada's Marihuana for Medical Purposes Regulations (MMPR). The Company typically invests in companies based in Canada.

The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operational and compliance policies. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose that: (i) Cronos had engaged in significant transactions for which its revenue recognition was inappropriate; (ii) the foregoing would foreseeably necessitate reviews that would delay the Company's ability to timely file its periodic reports; and (iii) as a result, the Company's public statements were materially false and misleading at all relevant times.

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First Identified Complaint

Jill Witte, et al. v. Cronos Group Inc., et al.

Date Filed:March 11th, 2020
Class Period Start:May 9th, 2019
Class Period End:March 2nd, 2020
First Identified Complaint Filings
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