DEADLINE ALERT: Brower Piven Reminds Investors Who Have Losses in Excess of $100,000 From Investment in GW Pharmaceuticals PL...
March 17 2016 - 1:17PM
The securities litigation law firm of Brower Piven, A Professional
Corporation, announces that a class action lawsuit has been
commenced in the United States District Court for the Southern
District of New York on behalf of purchasers of GW Pharmaceuticals
PLC (Nasdaq:GWPH) (“GW” or the “Company”) American Depositary
Receipts (“ADRs”) during the period between December 4, 2014 and
January 8, 2016, inclusive (the “Class Period”). Investors
with losses in excess of $100,000 who wish to become proactively
involved in the litigation have until March 21, 2016 to seek
appointment as lead plaintiff.
If you have suffered a loss from investment in
GW ADRs purchased on or after December 4, 2014 and held through the
revelation of negative information during and/or at the end of the
Class Period, as described below, and would like to learn more
about this lawsuit and your ability to participate as a lead
plaintiff, without cost or obligation to you, please visit our
website at
http://www.browerpiven.com/currentsecuritiescases.html. You
may also request more information by contacting Brower Piven either
by email at hoffman@browerpiven.com or by telephone at (410)
415-6616. No class has yet been certified in the above
action. Members of the Class will be represented by the lead
plaintiff and counsel chosen by the lead plaintiff.
If you wish to choose counsel to represent you
and the Class, you must apply to be appointed lead plaintiff and be
selected by the Court. The lead plaintiff will direct the
litigation and participate in important decisions including whether
to accept a settlement for the Class in the action. The lead
plaintiff will be selected from among applicants claiming the
largest loss from investment in Company ADRs during the Class
Period. Brower Piven also encourages anyone with information
regarding the Company’s conduct during the period in question to
contact the firm, including whistleblowers, former employees,
shareholders and others.
The complaint accuses the defendants of
violations of the Securities Exchange Act of 1934 by virtue of the
defendants’ failure to disclose during the Class Period that the
Company lacked effective internal financial controls as well as
effective controls over completeness and valuation of clinical
trial accruals.
According to the complaint, following a press
report that the Company lacked sufficiently precise controls: to
evaluate the completeness and accuracy of the calculation of
clinical trial accruals due to the incorrect allocation of
expenditure to clinical studies and to ensure completeness of
clinical trial accruals in connection with contractual progress
payment liabilities, the value of GW shares declined
significantly.
Attorneys at Brower Piven have extensive
experience in litigating securities and other class action cases
and have been advocating for the rights of shareholders since the
1980s. If you choose to retain counsel, you may retain Brower
Piven without financial obligation or cost to you, or you may
retain other counsel of your choice. You need take no action
at this time to be a member of the class.
Charles J. Piven
Brower Piven, A Professional Corporation
1925 Old Valley Road
Stevenson, Maryland 21153
Telephone: 410-415-6616
hoffman@browerpiven.com
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