An investigation was announced concerning possible violations of securities laws by Canopy Growth Corporation in connection with certain financial statements.
Investors who purchased shares of Canopy Growth Corporation (NYSE: CGC), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Canopy Growth Corporation (NYSE: CGC) concerning whether a series of statements by Canopy Growth Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Canada based Canopy Growth Corporation, together with its subsidiaries, engages in engages in production, distribution, and sale of cannabis in Canada. Canopy Growth Corporation reported that its annual Total Revenue rose from $77.94 million for the 12 months period that ended on March 31, 2018 to $226.34 million for the 12 months period that ended on March 31, 2019, and that its Net Loss increased from $70.35 million to $685.43 million over those respective time periods.
On November 14, 2019, Canopy Growth Corporation (NYSE: CGC) announced its financial results for the second quarter of fiscal year 2020. Among other results, Canopy reported revenue that fell below the lowest analyst estimate and an EBITDA loss of C$155.7 million, which one analyst described as “astounding.” Canopy Growth Corporation further advised investors that it was unlikely to meet its previous revenue guidance of C$250 million by the fiscal fourth quarter.
Shares of Canopy Growth Corporation (NYSE: CGC) declined from $52.60 per share in April 2019 to as low as $13.81 per share on November 19, 2019.
Those who purchased shares of Canopy Growth Corporation (NYSE: CGC) have certain options and should contact the Shareholders Foundation.
Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
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San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
