NEW YORK, June 09, 2020 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against iAnthus Capital Holdings, Inc. ("iAnthus" or "the Company") (OTCMKT: ITHUF) on behalf of shareholders who purchased iAnthus securities between May 14, 2018 and April 6, 2020, inclusive (the ''Class Period''). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/ithuf.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, defendants made false and misleading and/or failed to disclose that material adverse information. Specifically, the complaint alleges that iAnthus revealed 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." The complaint continues to state that iAnthus admitted it had begun an internal investigation of related party transactions involving CEO Hadley Ford. Following this news, iAnthus stock dropped over 62% that same day.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/ithuf or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in iAnthus you have until June 15, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
