Curaleaf Holdings, Inc. (OTC: CURLF) Investor Securities Class Action Lawsuit 08/06/2019

If you purchased a significant amount of shares of Curaleaf Holdings, Inc. (OTC: CURLF) between November 21, 2018 and July 22, 2019 , and / or if you purchased any OTC: CURLF shares prior to November 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: October 4, 2019. OTC: CURLF investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Curaleaf Holdings
Case Name: 
Curaleaf Holdings Shareholder Class Action Lawsuit 08/06/2019
Case Status: 
Lawsuit Filed
Affected Securities
OTC: CURLF
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
08/06/2019
Class Period Begin: 
11/21/2018
Class Period End: 
07/22/2019
Court of Filing: 
U.S. District Court for the Eastern District of New York
Deadline To File for Lead: 
11/04/2019
Summary: 

An investor in shares of Curaleaf Holdings, Inc. (OTC: CURLF) filed a lawsuit in the U.S. District Court for the Eastern District of New York over alleged violations of Federal Securities Laws by Curaleaf Holdings, Inc. in connection with certain allegedly false and misleading statements made between November 21, 2018 and July 22, 2019.

Wakefiled, MA based Curaleaf Holdings, Inc. operates as an integrated medical and wellness cannabis operator in the United States. Curaleaf Holdings, Inc. reported that its annual Total Revenue rose from $19.31 million in 2017 to $77.05 million in 2018 and that its Net Loss increased from $2.81 million in 2017 to $56.46 million in 2018.

Shares of Curaleaf Holdings, Inc. (OTC: CURLF) grew to as high as $11.36 per share on May 6, 2019.

On July 22, 2019, the FDA sent a warning letter to Curaleaf stating that several of the Company’s CBD products sold on the Company’s website were “misbranded drugs” in violation of the Federal Food, Drug, and Cosmetic Act.

Shares of Curaleaf Holdings, Inc. (OTC: CURLF) declined to $6.39 per share on August 13, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Curaleaf Holdings, Inc. (OTC: CURLF) common shares between November 21, 2018 and July 22, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between November 21, 2018 and July 22, 2019, the defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that Curaleaf Holdings, Inc, on its website and social media pages, marketed its CBD products to be used as drugs and dietary supplements, contrary to law, that Curaleaf Holdings, Inc also sold unapproved animal drugs on its website, that such conduct would result in a warning letter from the U.S. Food and Drug Administration (“FDA”), and that as a result, defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.