XXII.US
id: 690, Created by Stan Vick, Scout
22nd Century Group, Inc. (XXII) $3M Investor Settlement
How it works?
- Company agreed to pay compensation to its investors, to avoid further litigation
- We help you to prepare documents and file for compensation
Claim payout
W.D. New York
Court19-cv-01285-JLS-MJR
Case number18 Feb 2016
Class period Start31 Jul 2019
Class period End10 Oct 2023
Claim deadline22nd Century Group, Inc. (XXII) agreed to settle $3 million with Investors to avoid further litigation.
Those, who during the period from February 18, 2016, and July 31, 2019, inclusive purchased or otherwise acquired 22nd Century Group, Inc. securities and were allegedly damaged thereby, may be entitled to a payout.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:
- 22nd Century’s stock was prone to manipulation through paid stock promotions;
- such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and
- consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Alleged Offence
Misleading Statements,
Failure to Disclose,
Price manipulation,
Omissions
Suspected Party
Directors,
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.03
Filing date
21 January 2019
Lead plaintiff
Joseph Noto, Garden State Tire Corp., Stephens Johnson
Attorney
Pomerantz
Defendants
Henry Sicignano III , John T. Brodfuehrer, Bronstein, Gewirtz & Grossman
Judge
Hon. John L. Sinatra
Administrator
EPIQ
Court hearing date
03 October 2023
Exclusion deadline
12 September 2023
Objection deadline
12 September 2023
Hearing deadline
12 September 2023
Class wide damages
$15,000,000
Trades matching type
FIFO
+$3,000,000
Total Settlement AmountCase history
Stan Vick
06 September 2023
$XXII case-related News:
- 22nd Century Group & its BoD were hit with a shareholder derivative lawsuit in W.D. New York court.
- Shareholder accuses $XXII and BoD of failing to disclose that the company was being investigated by the SEC, which arose from purported weakness in the company's internal accounting practices.