Connect with us

Cannabis News

CannTrust Gets Slapped With Class Action By Thornton Grout Finnigan LLP And Rochon Genova LLP

Bea Brooks

Published

on

CannTrust-Gets-Slapped-with-Class-Action-by-Thornton-Grout-Finnigan-LLP-and-Rochon-Genova-LLP

From illegal and non-compliant cannabis growing, change in management and misrepresentations in financial statements to devalued stock prices, CannTrust has made a number of headlines early this summer. Things are about to get sticky for the Canadian medical cannabis provider.

Based on a press release made available on Wednesday, August 14, a group of lawyers from Thornton Grout Finnigan LLP and Rochon Genova LLP have come together to issue a class action to CannTrust for damages caused to investors by the firm’s actions.

The said victims, anyone who acquired CannTrust stocks between October 1, 2018 and July 8, 2019, are hoping to seek damage coverage from the firm themselves. Partners from both firms have since commented regarding the lawsuit, together emphasizing on investors rights to full disclosure.

Joel P. Rochon, Managing Partner at Rochon Genova not only stressed the importance of “accurate and timely public disclosure,” to the capital markets, but also to investors who need said information to “make informed decisions.”

Similarly, Thornton Grout Finnigan’s Founding Partner, John L. Finnigan noted that this class action reflects the need to upkeep “integrity of our capital markets,” which he argues is dependent on “timely and accurate corporate disclosure.”

According to Finnigan, the role of players like auditors is what ensures investors are well-protected, “and this is particularly so when dealing with a nascent industry like cannabis.”

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Follow Times of CBD News

popular-cbd-health-benefits best-cannabidiol-guide-resources hemp guide

TimesofCBD always fact checks sources and aims for the best accuracy in the reporting curated cannabis content consisting of the latest CBD news, user guides and product health research. Quality is the priority, but we are not eligible to be liable as everything here is for educational, informational purposes only. Always seek real additional medical advice and consultation with a professional healthcare practitioner before considering any CBD. No statements found on this website have underwent Food and Drug Administration evaluation. The efficacy of any products or claims made have never been approved by the FDA either. No products shall ever be intended to diagnose, treat or cure any disease or prevent any ailment.

Advertisement

Trending CBD News

Advertisement