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XXII.US
id: 690

22nd Century Group, Inc. (XXII) $3M Investor Settlement

It is still possible to file a late claim. The court will decide whether to accept late claims or not.
W.D. New York
Court
1:19-cv-01285
Case number
18 Feb 2016
Class period Start
31 Jul 2019
Class period End
10 Oct 2023
Claim deadline
22nd 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:
  1. 22nd Century’s stock was prone to manipulation through paid stock promotions;
  2. such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and
  3. 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
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Payout per Share
0.03
Filing date
21 January 2019
Plaintiffs
Joseph Noto, Garden State Tire Corp., Stephens Johnson
Attorneys
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 Amount

22nd Century Group Inc

22nd Century Group, Inc., an agricultural biotechnology company, focuses on tobacco harm reduction, reduced nicotine tobacco, and enhancing health and wellness through plant science for the life sc...

    Ticker
    XXII.US
    ISIN
    US90137F1030
    CIK
    1347858
    Sector
    Consumer Defensive
    Industry
    Tobacco
    Country
    USA
    Address
    500 Seneca Street, Buffalo, NY, United States, 14204