LOS ANGELES–(BUSINESS WIRE)–The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against iAnthus Capital Holdings, Inc. (“iAnthus” or “the Company”) (OTC: ITHUF) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.
Investors who purchased the Company’s securities between May 14, 2018 and April 6, 2020, inclusive (the ”Class Period”), are encouraged to contact the firm before June 15, 2020.
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We also encourage you to contact Brian Schall of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at firstname.lastname@example.org.
The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements to the market. iAnthus disclosed that it had failed to make certain interest payments, blaming its action on the “decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 due to the novel coronavirus.” The Company also admitted it had begun an internal investigation of related party transactions involving CEO Hadley Ford. Based on this news, shares of iAnthus fell by more than 62% on the same day.
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The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
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