On March 2, 2020, after the close of trading, Cronos Group Inc. disclosed an Audit Committee investigation into its revenue recognition for certain product sales, and announced it would not file its 2019 Annual Report on time. On this news, Cronos Group (NASDAQ: CRON) stock dropped by 12% in intraday trading, causing harm to investors.

Lost Money Investing in Cronos Group?

You may be eligible to recover your losses. Get a free and confidential consultation.

(Please provide number of shares, purchase date, and estimated losses.)

  • This field is for validation purposes and should be left unchanged.


Cronos Group Stock News: CRON misses filing 2019 report on time, expects to report an inventory write-down

On March 2, 2020 after the market closed, Cronos Group announced it had requested an extension from the SEC to file its Form 10-K for 2019. Cronos Group further said it can give “no assurance” that it will be able to meet the extended deadline.

The company also admitted that the delay is due to an Audit Committee investigation regarding several bulk resin purchases and wholesale product sales, and whether the revenue from those transactions were appropriately recognized.

Though the review is ongoing, Cronos Group  stated that it expects to report a material inventory write-down for 2019.

On this news, Cronos Group’s stocks dropped nearly 12% on March 3, 2020 to close at $5.32 per share, causing significant harm to investors.

Our Securities Lawyers Have a Winning Record Against Companies Like Cronos Group

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.

Michael Schrag

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.

Eileen Epstein Carney

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 Stein

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 Karl

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).