NEW YORK – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all investors that purchased Curaleaf Holdings, Inc. (Other OTC: CURLF) securities between November 21, 2018 and July 22, 2019 (the “Class Period”). Investors have until October 4, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
On July 22, 2019, the FDA sent a warning letter to Curaleaf stating that several of the Company’s CBD products sold on the Company’s website were “misbranded drugs” in violation of the Federal Food, Drug, and Cosmetic Act.
On this news, Curaleaf’s stock price fell $0.54, or over 7%, to close at $7.40 per share on July 23, 2019.
The complaint, filed on August 5, 2019, alleges that throughout the Class Period defendants made false and/or misleading statements and/or failed to disclose that: (1) Curaleaf, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law; (2) Curaleaf also sold unapproved animal drugs on its website; (3) such conduct would result in a warning letter from the U.S. Food and Drug Administration (“FDA”); and (4) 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.
If you purchased Curaleaf shares during the class period, are a long-term stockholder, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at mailto:investigations@bespc.com or telephone at (212) 355-4648.
For additional information concerning the Curaleaf class action please go to https://bespc.com/CURLF.
About Bragar Eagel & Squire, P.C.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com.