An investor, who purchased shares of Trulieve Cannabis Corp. (OTC: TCNN), filed a lawsuit in the U.S. York over alleged violations of Federal Securities Laws by Trulieve Cannabis Corp.
Investors who purchased shares of Trulieve Cannabis Corp. (OTC: TCNN) have certain options and for certain investors are short and strict deadlines running. Deadline: February 28, 2020. OTC: TCNN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On December 17, 2019, a report was releaded detailing problems with Trulieve’s operations. According to the report, the Company’s cannabis cultivation space consists of "hoop houses that produce low quality output," its initial licensing process "stinks of corruption," it engages in related-party transactions, and there are ties between the Company and an ongoing FBI investigation.
The dame day, Trulieve Cannabis Corp announced that it is aware of a “short-seller “report released which according to Trulieve Cannabis Corp contained several false, slanderous and misleading statements about Trulieve.
On December 30, 2019, a lawsuit was filed against Trulieve Cannabis Corp. (OTC: TCNN) over alleged securities laws violations.
Shares of Trulieve Cannabis Corp. (OTC: TCNN) declined from $13.57 per share on December 5, 2019 to as low as $9.85 per share on January 8, 2020.
Then on January 10,2020, Trulieve Cannabis Corp. announced that it has filed a lawsuit in Florida state court against the company that released the report on December 17, 2019 alleging, among other claims, defamation for publicly disseminating false and libelous statements about Trulieve to manipulate the stock price and further its own financial interests.
Shares of Trulieve Cannabis Corp. (OTC: TCNN) closed on January 13, 2020 at $10.24 per share.
The plaintiff claims that between September 25, 2018 and December 17, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Trulieve overstated its mark-up on its biological assets, that therefore, Trulieve’s reported gross profit was inflated, that Trulieve engaged in an undisclosed related party real estate sale with Defendant Rivers’ husband, and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased shares of Trulieve Cannabis Corp. (OTC: TCNN) have certain options and should contact the Shareholders Foundation.
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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.
