Market Overview

Glancy Prongay & Murray LLP Files a Securities Class Action on Behalf of Cronos Group, Inc. Investors (CRON)

Share:

National law firm Glancy
Prongay & Murray LLP
("GPM") announces that it has filed a class
action lawsuit in the United States District Court for the Southern
District of New York on behalf of persons and/or entities that acquired
Cronos Group, Inc. ("Cronos" or the "Company") (NASDAQ:CRON) securities
between August 21, 2018, and August 30, 2018, inclusive (the
"Class Period"). Plaintiff pursues claims against the Defendants, under
the Securities Exchange Act of 1934.

Cronos investors are hereby notified that they have 60 days from
the date of this notice
to move the Court to serve as lead plaintiff
in this action.

If you are a shareholder who suffered a loss, click here to
participate.

On August 30, 2018, Citron Research published an article entitled
"Cronos: The Dark Side of Cannabis Space," alleging, among other things,
that the Company has been "deceiving the investing public by purposely
not disclosing the size of its distribution agreements with provinces –
unlike every other major cannabis player" and that this was because "the
agreements are so small that they could never justify the premium
investors are paying for the stock." On this news, Cronos' share price
fell $3.62 per share, or over $28%, to close at $9.12 per share on
August 30, 2018, on unusually heavy trading volume.

The complaint filed in this class action alleges that, throughout the
Class Period, Defendants made materially false and/or misleading
statements, as well as failed to disclose material adverse facts about
the Company's business, operations, and prospects. Specifically,
Defendants failed to disclose: (1) that the size of Cronos' distribution
agreements with the provinces was relatively small; and (2) that, as a
result of the foregoing, Defendants' positive statements about Cronos'
business, operations, and prospects were materially false and/or
misleading, and/or lacked a reasonable basis.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased Cronos securities during the Class Period, you may move
the Court no later than 60 days from the date of this notice to
ask the Court to appoint you as lead plaintiff. To be a member of the
Class you need not take any action at this time; you may retain counsel
of your choice or take no action and remain an absent member of the
Class. If you wish to learn more about this action, or if you have any
questions concerning this announcement or your rights or interests with
respect to these matters, please contact Lesley Portnoy, Esquire, of
GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067
at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.

This press release may be considered Attorney Advertising in some
jurisdictions under the applicable law and ethical rules.

View Comments and Join the Discussion!