Canopy Growth Corporation

Ticker: CGC, WEED

Class Period Start: 05/31/2022

Class Period End: 05/10/2023

Registration Deadline: 07/24/2023

A securities class action has been filed in the USDC – S.D.N.Y. on behalf of purchasers of Canopy Growth Corporation (CGC, WEED) (“Canopy Growth” or the “Company”) between May 31, 2022 and May 10, 2023, both dates inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court no later than July 24, 2023.


The Complaint 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 to investors:


  • • that there were material weaknesses in the Company’s internal controls over accounting and financial reporting;
  • • that, as a result, the Company improperly booked sales of its BioSteel Sports Nutrition Inc. (“BioSteel”) business unit;
  • • that, as a result, the Company’s revenue was overstated; and
  • • that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

On May 10, 2023, after the market closed, Canopy Growth filed a Form 8-K with the SEC announcing that certain previously issued financial statements should no longer be relied upon because it “identified certain trends in the booking of sales by the [BioSteel] business unit for further review.” On this news, Canopy Growth’s stock price fell $0.18, or 14.8%, to close at $1.04 per share on May 11, 2023, on unusually heavy trading volume.

If you purchased Canopy Growth securities during the Class Period and would like to receive more information or join the action, please enter your contact information below and click “Submit Your Information”


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