Michael has over 20 years of experience representing individual and small business plaintiffs against the world’s large financial institutions, including Visa, Mastercard, and Chase.
Our attorneys are investigating a possible CannTrust class action lawsuit. CannTrust shares fell over 22% after a Canadian healthcare regulator seized nearly 13 metric tons of its inventory. According to regulators, CannTrust, a marijuana growing company, grew the cannabis in an unlicensed manner, resulting in a hold on inventory that will lead to temporary product shortages. Many investors are upset with the company’s actions.
CannTrust Holdings (NYSE: CTST) Stock Losses?
If you suffered losses as a result of CannTrust Holdings, contact us for a free consultation. Please provide number of shares and estimated losses
CannTrust Holdings Shares Plummet almost 20%; Canadian Regulators Seize Inventory
On July 8, 2019, Canadian Regulators found that CannTrust Holdings was growing cannabis in five unlicensed rooms. According to CannTrust Holdings
Health Canada has placed a hold on inventory which includes approximately 5,200 kg of dried cannabis that was harvested in the previously unlicensed rooms in Pelham, until it deems that the company is compliant with regulations.
The company has warned customers that they may experience a temporary product shortage. CannTrust employees have also been accused of providing false information to Canadian regulators. On this news, share prices fell 19%.
According to Jefferies analyst Ryan Tomkins
The fact the company never spotted this, or indeed still doesn’t know how it happened, is a concern… For us, this will make institutional investors think twice, and could also likely make it harder for CannTrust to attract high quality FMCG partnerships.
Our Securities Lawyers Have a Winning Record Against Companies Like CannTrust Holdings
Our securities lawyers have recovered over a billion dollars on behalf of our clients against behemoths, such as Chase Bank, Mastercard, and Anthem Blue Cross Blue Shield. Read more about our results.
You “shouldn’t presume that powerful banks and other powerful interests can just get away with doing bad things. Good, qualified counsel that are committed to a cause can usually figure out how to prosecute such cases effectively and prevail.”
–Eric Gibbs, award-winning securities attorney
Praise from the Courts
Federal judge in our AT&T class action:
“I’ve always found them to be extraordinary counsel in terms of their preparation and their professionalism.”
Federal judge in our Chase lawsuit (resulting in $100 million settlement):
They “fought tooth and nail, down to the wire” to achieve “the best settlement that they could under the circumstances.”
Read more about what judges say about us.
Our Featured Securities Team
Eileen works closely with investors in securities cases and has over a decade of experience in the legal world. She received her law degree from American University in 2005.
David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.
Amanda is spearheading a securities lawsuit against NantHealth concerning fraudulent statements to investors about the success of its key product.
Gibbs Law Group's Financial Fraud Experience
Gibbs Law Group’s financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.
We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
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