{"id":835318,"date":"2025-04-08T20:03:10","date_gmt":"2025-04-09T00:03:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-canopy-growth-corporation-cgc\/"},"modified":"2025-04-08T20:03:10","modified_gmt":"2025-04-09T00:03:10","slug":"gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-canopy-growth-corporation-cgc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-canopy-growth-corporation-cgc\/","title":{"rendered":"Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Canopy Growth Corporation (CGC)"},"content":{"rendered":"
\n

NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Canopy Growth Corporation (\u201cCanopy\u201d or the \u201cCompany\u201d) (NASDAQ: CGC) securities between May 30, 2024 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d).<\/p>\n

The Complaint alleges that defendants failed to disclose that: (i) Canopy had incurred significant costs producing Claybourne pre-rolled joints in connection with the Claybourne product launch in Canada; (ii) the foregoing costs, in addition to certain indirect costs that Canopy incurred in connection with its Storz & Bickel vaporizer devices, were likely to have a significant negative impact on the Company\u2019s gross margins and overall financial results; and (iii) accordingly, defendants had overstated the efficacy of Canopy\u2019s cost reduction measures and the health of its gross margins while downplaying issues with the same.<\/p>\n

On February 7, 2025, Canopy announced disappointing financial results \u201cprimarily due to the incremental costs related to the Claybourne infused pre-roll launch in Canada, and an increase in indirect costs of Storz & Bickel vaporizer devices[.]\u201d On this news, Canopy\u2019s share price fell 27.24%, to close at $2.02 on February 7, 2025.<\/p>\n

Investors who purchased or otherwise acquired shares of Canopy should contact the Firm prior to the June 3, 2025<\/em><\/strong> lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com<\/u><\/a> or gegleston@gme-law.com<\/u><\/a>.<\/p>\n

Please visit our website at http:\/\/www.gme-law.com<\/u><\/a> for more information about the firm.<\/p>\n

\"\"
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<\/div>\n","protected":false},"excerpt":{"rendered":"

NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Canopy Growth Corporation (\u201cCanopy\u201d or the \u201cCompany\u201d) (NASDAQ: CGC) securities between May 30, 2024 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d). The Complaint alleges that defendants failed to disclose that: (i) Canopy had incurred significant costs producing Claybourne pre-rolled joints in connection with the Claybourne product launch in Canada; (ii) the foregoing costs, in addition to certain indirect costs that Canopy incurred in connection with its Storz & Bickel vaporizer … <\/p>\n

Continue reading “Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Canopy Growth Corporation (CGC)”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-835318","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Canopy Growth Corporation (CGC) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gainey-mckenna-egleston-announces-a-class-action-lawsuit-has-been-filed-against-canopy-growth-corporation-cgc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gainey McKenna & Egleston Announces A Class\u00a0Action Lawsuit Has Been Filed Against Canopy Growth Corporation (CGC) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a securities class action lawsuit has been filed in the United States District Court for the Eastern District of New York on behalf of all persons or entities who purchased or otherwise acquired Canopy Growth Corporation (\u201cCanopy\u201d or the \u201cCompany\u201d) (NASDAQ: CGC) securities between May 30, 2024 and February 6, 2025, both dates inclusive (the \u201cClass Period\u201d). 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