CANNTRUST SHAREHOLDER ALERT by Former Louisiana Attorney General: Kahn Swick & Foti, LLC Reminds Investors With Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit Against CannTrust Holdings, Inc. – CTST
Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until September 9, 2019 to file lead plaintiff applications in a securities class action lawsuit against CannTrust Holdings, Inc. (NYSE:CTST), if they purchased the Company’s securities between November 14, 2018 and July 5, 2019, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.
What You May Do
If you purchased securities of CannTrust and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nyse-ctst/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by September 9, 2019.
About the Lawsuit
CannTrust and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 8, 2019, the Company disclosed the receipt of a compliance report from Health Canada finding that its greenhouse facility in Pelham, Ontario was non-compliant with regulations, resulting in a hold being placed on 5,200 kilograms (11,464 pounds) of dried cannabis harvested from the facility. An additional 7,500 kilograms (16,532 lbs) was also voluntarily held by the Company, until the facility becomes compliant.
On this news, the price of CannTrust’s shares plummeted.
The case is Huang v. CannTrust Holdings Inc., et al, 1:19cv6396.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.