NEW YORK, Dec. 02, 2019 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Canopy Growth Corporation (“Canopy” or the “Company”) (NYSE: CGC). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. 9980.
The investigation concerns whether Canopy and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
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On November 14, 2019, Canopy announced its financial results for the second quarter of fiscal year 2020. Among other results, Canopy reported revenue that fell below the lowest analyst estimate and an EBITDA loss of C$155.7 million, which one analyst described as “astounding.” The Company further advised investors that it was unlikely to meet its previous revenue guidance of C$250 million by the fiscal fourth quarter. On this news, Canopy’s stock price fell sharply during intraday trading on November 14, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
