Investors Slam Canadian Cannabis Company Over Use of Unlicensed Facility

A cross-border securities class action against Canadian cannabis company HEXO Corp. alleges the company inflated revenue figures, misstated inventory, and grew cannabis in an unlicensed facility leading to hundreds of millions of dollars in market capitalization loss.

Read more

Uber Shares Hover Near Low as Investors Sue Post-IPO

Shareholders claim in a class action that in the lead-up to its initial public offering, Uber Technologies Inc. failed to warn investors about “rapidly increasing subsidies for customer rides and meals in a bid for market share” while “at the same time, cutting (or planning to cut) costs in key areas that undermined Uber’s central growth opportunities.”

Read more

Shareholders Claim Gannett Merger Shrouded in Darkness

Mass-media company Gannett Co. Inc. is set to be bought by New Media Investment Group creating a dominant force in print and digital news, but a class action lawsuit seeks to block the deal alleging that crucial information was withheld from investors in statements filed with the U.S. Securities Exchange Commission.

Read more

Vape Supplier’s Stock Tanked as City Bans Took Hold, Class Claims

Greenlane Holdings, one of North America’s largest sellers of cannabis accessories and liquid nicotine products, has been hit with a securities class action alleging the company and underwriters misled the public about its April 2019 initial public offering by withholding crucial information about a key supplier.

Read more

Israeli Pension Fund Manager Leads Class Action Against Teva Pharmaceuticals Over Price-Hike and Opioid Scandals

Joining a long list of complainants against pharmaceutical giant Teva Pharmaceuticals and similar drug makers, Israel’s largest pension fund manager claims in a class action that Teva colluded with competitors to exorbitantly raise the price of generic drugs over the past five years.

Read more

Class Skewers UK Pharma Firm Over Opioid-Addiction Treatment

Investors claim in a class action that U.K.-based health conglomerate Reckitt Benckiser Group PLC engaged in a multibillion-dollar scheme to facilitate opiate usage and abuse among U.S. consumers, generating over $3 billion in proceeds by allegedly misleading consumers and investors about risks of the company’s Suboxone film and Suboxone tablets, prescription drugs used to treat opioid addiction.

Read more