LOS ANGELES, July 29, 2019 (GLOBE NEWSWIRE) — The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against 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.
Investors who purchased the Company’s shares between November 14, 2018 and July 5, 2019, inclusive (the ”Class Period”), are encouraged to contact the firm before September 9, 2019.
If you are a shareholder who suffered a loss, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
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.
According to the Complaint, the Company made false and misleading statements to the market. CannTrust was growing cannabis in its Pelham greenhouse without regulatory approval as the applications were still pending. In general, the Pelham greenhouse did not comply with regulations. This resulted in an increased likelihood of the Company facing an inventory hold by Health Canada, resulting in the Company’s customers seeking products from other cannabis suppliers. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about CannTrust, investors suffered damages.
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