NEW YORK, NY / ACCESSWIRE / June 30, 2023 / National investment loss attorneys KlaymanToskes encourages Canopy Growth (NASDAQ:CGC) investors who suffered losses of $100,000 or more as a result of misconduct by their broker/investment advisor to contact the firm immediately at 888-997-9956. Disclosure: Investors with self-directed accounts who did not rely on the advice of a financial advisor are not eligible for our services.
KlaymanToskes is investigating brokerage firms that managed customers’ positions in Canopy Growth Corporation (“CGC”) and misrepresented or failed to disclose known risks to investors. Brokerage firms that failed to recommend risk management strategies to customers with large, concentrated or margined positions in Canopy Growth may be liable for investor losses.
On May 10, 2023, Canopy Growth announced that its audited consolidated financial statements for the fiscal year ended March 31, 2022, and the quarters ended June 30, 2022, September 30, 2022 and December 31, 2022 should no longer be relied upon.
Upon CGC’s announcement, its stock price fell by 14.8% the following day, and closed at $1.04 per share on May 11, 2023. Currently, CGC’s 52-week low stands at $0.47, representing a 90% decrease from its 52-week high of $4.77.
According to a class action complaint filed against Canopy Growth, the company failed to disclose adverse facts about its operations to investors and improperly booked sales of its BioSteel business unit that resulted in overstated revenue.
Investors should know that class-actions may take many years to resolve, and that payouts are generally heavily undervalued. A separate securities arbitration claim filed with the Financial Industry Regulatory Authority (FINRA) may result in a greater recovery.
Investors that suffered losses in excess of $100,000 should immediately contact attorney Lawrence L. Klayman, Esq. for a free consultation at 888-997-9956 or lklayman@klaymantoskes.com to discuss recovery options.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com
SOURCE: KlaymanToskes, P.A.