UPCOMING DEADLINE: Levi & Korsinsky, LLP Reminds Shareholders of GW Pharmaceuticals plc of Class Action and a Lead Plaintiff ...
March 18 2016 - 4:00PM
The following statement is being issued by Levi & Korsinsky,
LLP:
To: All persons or entities who
purchased or otherwise acquired securities of GW
Pharmaceuticals plc (“GW Pharmaceuticals”) (NASDAQ:GWPH)
between December 4, 2014 and January 8, 2016.
You are hereby notified that a
securities class action lawsuit has been commenced in the USDC for
the Southern District of New York. To get more information
go to: http://zlk.9nl.com/gw-pharmaceuticals.
The complaint alleges that throughout the Class
Period, defendants made false and/or misleading statements and/or
failed to disclose that: (i) the Company lacked effective internal
financial controls; (ii) the Company lacked effective controls over
completeness and valuation of clinical trial accruals; and (iii) as
a result of the foregoing, Defendants’ statements about GW
Pharmaceuticals’ business, operations, and prospects were false and
misleading and/or lacked a reasonable basis.
In its 2015 Annual Report, GW Pharmaceuticals disclosed the
discovery of a material weakness in its internal control over
financial reporting for the year ended September 30, 2015. The
Company noted that “management does not have 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.” On this news, GW
Pharmaceuticals stock fell $3.55, or nearly 6%, to close at $56.31
per share on January 11, 2016.
If you suffered a loss in GW
Pharmaceuticals you have until March 21, 2016 to request
that the Court appoint you as lead plaintiff. Your ability to share
in any recovery doesn’t require that you serve as a lead plaintiff.
To obtain additional information, contact Joseph E. Levi, Esq.
either via email at jlevi@zlk.com or by telephone at (212)
363-7500, toll-free: (877) 363-5972, or visit
http://zlk.9nl.com/gw-pharmaceuticals.
Levi & Korsinsky is a national firm with
offices in New York, New Jersey, California, Connecticut, and
Washington D.C. The firm’s attorneys have extensive expertise and
experience representing investors in securities litigation
involving financial fraud, and have recovered hundreds of millions
of dollars for aggrieved shareholders. Attorney advertising. Prior
results do not guarantee similar outcomes.
CONTACT:
Levi & Korsinsky, LLP
Eduard Korsinsky, Esq.
30 Broad Street - 24th Floor
New York, NY 10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
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