LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of CannTrust Holdings Inc. (“CannTrust” or “the Company”) (NYSE: CTST) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. CannTrust announced on July 8, 2019, that its greenhouse facility located in Ontario, Canada, was audited by Health Canada, which rated it “non-compliant.” Health Canada placed a hold on 5,200 kilograms of dried cannabis allegedly harvested from five unlicensed rooms. It will hold this cannabis until the Company is in compliance with regulations. CannTrust also announced it would hold another 7,500 kilograms of dried cannabis that it says was also produced in unlicensed rooms. Based on this news, shares of CannTrust fell by more than 21% in intraday trading on the same day.
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The class in this case has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
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