Canadian Cannabis Biz Hit With Investor Suit Over $143M IPO
Law360 (September 10, 2019, 9:56 PM EDT) -- A Sundial Growers stockholder has launched a proposed class action against the Canadian cannabis producer in New York state court, claiming the company misled investors ahead of its $143 million initial public offering by failing to disclose that a customer had returned more than half a ton of cannabis over quality issues.
Trisha Peters claims Calgary, Alberta-based Sundial Growers Inc. produced a false and misleading registration statement before its IPO last month by not mentioning that more than 1,200 pounds of cannabis was returned by a corporate customer for containing visible mold, parts of rubber gloves and “other non-cannabis material,” according...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!