NEW YORK, April 27, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company") (OTC: ITHUF). A complaint has been filed against the Company, Gotham Green Partners (a private equity firm that provided financing to iAnthus) and certain executives and/or directors of the Company on behalf of investors that purchased iAnthus securities between May 14, 2018 and April 6, 2020, inclusive (the "Class Period").
On April 6, 2020, iAnthus issued a press release disclosing that it had failed to make certain interest payments, blaming its action on the "decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 due to the novel coronavirus known as COVID-19." However, iAnthus also admitted it had formed a Special Committee of independent, non-management directors to, among other things, "investigate any potential conflicts of interest and/or required disclosures" involving CEO Hadley Ford and certain related parties.
Following this news, iAnthus shares plummeted by about 62% on April 6, 2020.
If you are a member of the proposed Class, you may move the court no later than June 15, 2020 to serve as a lead plaintiff for the purported class. You need not seek to become a lead plaintiff in order to share in any possible recovery. If you would like to discuss the complaint or our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 646-315-9003.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. If you have any questions about this Notice, your rights, or your interests, please contact:
Donald R. Hall
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(646) 315-9003
E-mail: dhall@kaplanfox.com
Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: lking@kaplanfox.com
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SOURCE Kaplan Fox & Kilsheimer LLP