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Barbuto & Johansson, P.A. Informs Investors of the Pending Class Action Lawsuit Against CannTrust Holdings (NYSE:CTST); Company Suspends Sales and Shipments of All Cannabis Products

1077 Days ago

WELLINGTON, Fla., July 15, 2019 (GLOBE NEWSWIRE) -- Barbuto & Johansson, P.A. (“BARJO”) and Of Counsel, Neil Rothstein, Esq. (with over 30 years of Securities Class Action Experience, including cases against ENRON and Halliburton) reminds investors that they have until September 9, 2019 to contact the Firm to learn more about the class action filed against CannTrust Holdings (NYSE:CTST; OTC: CNTTF), and appointment and qualifications to be considered for the role of lead plaintiff.

According to the complaint, Defendants misrepresented and concealed that CannTrust was growing cannabis in its Pelham greenhouse facility in five unlicensed rooms between October 2018 and March 2019, and provided inaccurate information to regulators and false and misleading public statements.

On July 8, 2019, the market began to learn the truth when Defendants disclosed that Health Canada found that the Pelham greenhouse facility was non-compliant with certain regulations.  As a result, Health Canada placed a hold on 5,200 kilograms of dried cannabis harvested from the unlicensed rooms and an additional 7,500 kilograms was voluntarily held by the Company.

Most recently, on July 11, 2019, Defendants announced CannTrust (1) suspended sales and shipments of all of its cannabis products and (2) established a special committee to investigate the matter in its entirety.

If you’ve suffered damages from investing in CannTrust Holdings and would like to discuss your options, including petitioning the court for a leadership position, you may, without obligation or cost, contact Anthony Barbuto, at (888) 715-2520 or via email at anthony@barjolaw.com; or Neil Rothstein at (330) 860-4092 or email at neil@barjolaw.com

BARJO follows the principles set forth in the case Berger v. Compaq, 257 F.3d 475 (5th Cir. 2001) which states “[c]lass action lawsuits are intended to serve as a vehicle for capable, committed advocates to pursue the goals of the class members through counsel, not for capable, committed counsel to pursue their own goals through the class members.” BARJO believes strongly that the choice of qualified Lead Plaintiff(s) can have a significant impact on the successful outcome of a case. If you wish to be considered to serve as lead plaintiff, you must request this position by application to the Court by September 9, 2019.

Barbuto & Johansson, P.A.
Anthony Barbuto, Esq.

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