Faruqi & Faruqi, LLP Reminds Investors in CannaVEST Corporation (CANV) of Imminent Deadline to Protect Your Rights
June 20 2014 - 9:30AM
Marketwired
Faruqi & Faruqi, LLP Reminds Investors in CannaVEST Corporation
(CANV) of Imminent Deadline to Protect Your Rights
NEW YORK, NY--(Marketwired - Jun 20, 2014) - Faruqi &
Faruqi, LLP, a leading national securities law firm, reminds
investors in CannaVEST Corporation ("CannaVEST" or the "Company")
(OTCQB: CANV) of the June 23, 2014 deadline to seek the role of
lead plaintiff in a federal securities class action lawsuit filed
against CannaVEST and certain executives and directors.
A complaint has been filed in the Southern District of New York
on behalf of all persons who purchased CannaVEST common stock
between May 20, 2013 and April 3, 2014, inclusive (the "Class
Period").
The complaint alleges that the Company and its executives
violated federal securities laws with respect to its disclosures
concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class
Period, the Company made false and/or misleading statements and/or
failed to disclose that CannaVEST overstated its sales for the
quarter ended March 31, 2013 by over 17% and misstated its goodwill
by over 1300%.
On April 3, 2014, the Company announced in a Form 8-K that it
had made material errors in its Form 10-Qs for the first three
quarters of 2013.
Following this news, the Company's shares declined by $6.76 per
share, or over 21%, to close at $25.30 per share on April 3,
2014.
Request more information now by clicking here:
www.faruqilaw.com/CANV. There is no cost or obligation to
you.
Take Action
If you invested in CannaVEST stock or options between May 20,
2013 and April 3, 2014 and would like to discuss your legal rights,
visit www.faruqilaw.com/CANV. You can also contact us by
calling Richard Gonnello toll free at 877-247-4292 or at
212-983-9330 or by sending an e-mail to
rgonnello@faruqilaw.com. Faruqi & Faruqi, LLP also
encourages anyone with information regarding CannaVEST's conduct to
contact the firm, including whistleblowers, former employees,
shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents
investors and individuals in class action litigation. The firm
is focused on providing exemplary legal services in complex
litigation in the areas of securities, shareholder, antitrust and
consumer litigation, throughout all phases of litigation. The
firm has an experienced trial team which has achieved significant
victories on behalf of the firm's clients. To keep track of the
latest securities litigation news, follow us on Twitter at
www.twitter.com/MergerActivity or on Facebook at
www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this
advertisement is Faruqi & Faruqi, LLP
(www.faruqilaw.com). Prior results do not guarantee or predict
a similar outcome with respect to any future matter. We
welcome the opportunity to discuss your particular case. All
communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP 369 Lexington Avenue, 10th Floor New
York, NY 10017 Attn: Richard Gonnello, Esq. Email Contact
Telephone: (877) 247-4292 or (212) 983-9330
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