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CGC.US
id: 715

Canopy Growth Corporation (CGC) Case on Misleading

S.D. New York
Court
1:23-cv-04302
Case number
31 May 2022
Class period Start
10 May 2023
Class period End
22 Jul 2023
Lead Plaintiff motion deadline
  • Canopy Growth disclosed material misstatements in its prior financial statements.
  • $CGC lost 14% and $100M+ of its capitalization.
  • Investors suspect Canopy Growth & its Leaders of misleading.
On May 10, 2023, Canopy Growth Corporation (CGC) disclosed that it had identified material misstatements in its prior financial statements related to sales in its BioSteel business unit that were accounted for incorrectly.

The company identified misstatements in its audited annual financial Statements for the fiscal year ended March 31, 2022, and its interim financial statements for the quarterly periods ended June 30, 2022, September 30, 2022, and December 31, 2022.

On this news, $CGC lost 14% and $119M of its capitalization, seriously damaging investors.

Taking appeared facts into account, Investors have reasons to suspect Canopy Growth and its Leaders of negligence and misleading which led to investment losses.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
10 May 2023
Filing date
23 May 2023
Lead Plaintiff Deadline
22 July 2023
Judge
Hon. Paul A. Engelmayer
Collecting participants…

Canopy Growth Corp

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in C...

    Ticker
    CGC.US
    ISIN
    CA1380351009
    CIK
    1737927
    Sector
    Healthcare
    Industry
    Drug Manufacturers - Specialty & Generic
    Country
    USA
    Address
    1 Hershey Drive, Smiths Falls, ON, Canada, K7A 0A8