Investors in cannabis operator Canopy Growth Corp. have sued the company to recover alleged damages after a poor quarterly earnings report.
The class action lawsuit – filed in April by shareholders who purchased Canopy stocks between May 30, 2024, and Feb. 6, 2025 – followed a sharp decline in the value of the company’s shares revealed in a Feb. 7 earnings report.
At the heart of the investor dispute are allegations that Canopy downplayed the costs of launching a new pre-roll line and of acquiring a major vaporizer company.
According to court records, the complaint alleges that Canopy made false and misleading statements about its business, operations and prospects…
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