NEW YORK, July 16, 2019 /CNW/ -- Pomerantz LLP is investigating claims on behalf of investors of CannTrust Holdings Inc. ("CannTrust" or the "Company") (NYSE: CTST). Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether CannTrust and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On July 8, 2019, CannTrust disclosed that Health Canada, the Canadian government department responsible for national public health, found that the Company's greenhouse facility in Pelham, Ontario is non-compliant with certain regulations. As a result, Health Canada placed a hold on 5,200 kilograms of dried cannabis harvested from unlicensed rooms in the facility, along with an additional 7,500 kilograms voluntarily held by the Company, until the Pelham facility becomes compliant.
On this news, CannTrust's stock price fell $1.11 per share, or more than 22%, to close at $3.83 per share on July 8, 2019.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com.
Robert S. Willoughby
SOURCE Pomerantz LLP