KlaymanToskes Offers FINRA Arbitration as an Additional Recovery Option for Investors with Losses in Canopy Growth
NEW YORK, NY / ACCESSWIRE / February 21, 2024 / National investment loss attorneys KlaymanToskes encourages Canopy Growth (NASDAQ:CGC) investors who suffered losses of $100,000 or more as a result of a recommendation by their broker/investment advisor to contact the firm immediately at 888-997-9956. Investors with self-directed accounts who did not rely on the advice of a financial advisor are not eligible for our services.
KlaymanToskes is investigating brokerage firms that recommended positions in Canopy Growth Corporation ("CGC") and misrepresented or failed to disclose known risks to investors. Brokerage firms that recommended large, concentrated or margined positions in Canopy Growth may be liable for investor losses. Additionally, brokerage firms have a responsibility to provide customers with risk management strategies for large, concentrated, and margined positions.
On May 10, 2023, Canopy Growth announced that its audited consolidated financial statements for the fiscal year ended March 31, 2022, and the quarters ended June 30, 2022, September 30, 2022 and December 31, 2022 should no longer be relied upon.
On this news, Canopy's stock price fell to $10.04 per share on May 11, 2023. Prior to this, Canopy traded as high as $429 per share, and is currently trading at $3.56 per share, representing a tremendous decline of over 99%.
According to a class action complaint filed against Canopy Growth, the company failed to disclose adverse facts about its operations to investors and improperly booked sales of its BioSteel business unit that resulted in overstated revenue.
Investors should know that class-actions may take many years to resolve, and that payouts are generally heavily undervalued. Accordingly, investors should consider all their legal options, including filing a securities arbitration claim with the Financial Industry Regulatory Authority (FINRA), against the brokerage firm who recommended the purchase. A FINRA arbitration claim may result in a greater and additional recovery.
Investors that suffered losses in excess of $100,000 should immediately contact attorney Lawrence L. Klayman, Esq. for a free and confidential consultation at 888-997-9956 or lawrence@klaymantoskes.com to discuss recovery options. We do not collect attorneys fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com
SOURCE: KlaymanToskes, P.A.
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