Greenlane Holdings, Inc. Securities Litigation

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Lawsuit Overview

Defendant:Greenlane Holdings, Inc.
Date Filed:September 11th, 2019
Sector:Capital Goods
Industry:Recreational Products/Toys

According to the Complaint, Greenlane distributes e-cigarettes, vaporizers, and accessories through its subsidiaries. The Company also distributes premium products containing hemp-derived CBD.

In April 2019, Greenlane held its initial public offering ("IPO") in which it sold more than 6 million common shares at $17.00 per share.

The Complaint alleges that the Registration Statement was materially false and misleading and omitted to state: (1) that the City of San Francisco had introduced a major initiative to ban the sale of e-cigarette products across three major cities and prohibit the manufacture of products at the headquarters of Greenlane's key partner, JUUL Labs; (2) that, if approved, the initiative would materially and adversely impact the Company's financial results and prospects; and (3) 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

Chris Hammond, et al. v. Greenlane Holdings, Inc., et al.

Date Filed:September 11th, 2019
Class Period Start:April 18th, 2019
Class Period End:September 11th, 2019
First Identified Complaint Filings
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