November 25, 2019 Deadline: Kaskela Law LLC Announces Class Action Lawsuit Against Sundial Growers Inc. (SNDL) & Encourages I...
November 25 2019 - 10:05AM
Business Wire
Kaskela Law LLC announces that an investor class action lawsuit
has been filed against Sundial Growers Inc. (“Sundial” or the
“Company”) (Nasdaq: SNDL) on behalf of investors.
Sundial investors who purchased shares of the Company’s stock
between August 1, 2019 and August 16, 2019 are encouraged to
contact Kaskela Law LLC at (888) 715–1740, or online at
http://kaskelalaw.com/case/sundial-growers-inc/, for
additional information about this action and their legal rights and
options.
On or about August 1, 2019, Sundial completed its initial public
offering (“IPO”) of stock, selling 11 million shares of stock to
investors at $13.00 per share.
Approximately two weeks later, on August 16, 2019, MarketWatch
published an article entitled “Wall Street’s latest billion-dollar
pot company had a half-ton of bad weed returned as it was going
public.” According to the article, “[t]he newest cannabis company
on Wall Street, Sundial Growers Inc., sold a half ton of pot that
was returned by corporate buyer Zenabis Global Inc. because it
contained visible mold, parts of rubber gloves and other
non-cannabis material, according to people familiar with the
matter. … The company included a number of risks around inventory
spoilage in its IPO filing but did not include a reference to a
half ton of returned cannabis.”
Shares of Sundial’s stock have declined over $8.00 per share,
or over 60% in value, from the time of the Company’s IPO less than
three months earlier.
IMPORTANT DEADLINE: Sundial
investors may, no later than November 25, 2019, seek to be
appointed as a lead plaintiff of the investor class. Investors are
encouraged to contact Kaskela Law LLC prior to the deadline to
receive additional information about this action.
Kaskela Law LLC exclusively represents investors in securities
fraud and shareholder rights litigation in state and federal
actions. For additional information about Kaskela Law LLC please
visit www.kaskelalaw.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20191125005513/en/
KASKELA LAW LLC 18 Campus Blvd., Suite 100 Newtown
Square, PA 19073 (484) 258 – 1585 (888) 715 – 1740
www.kaskelalaw.com Attn: D. Seamus Kaskela, Esq.
skaskela@kaskelalaw.com
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