IMPORTANT GW PHARMACEUTICALS SHAREHOLDER ALERT: Wolf Haldenstein Adler Freeman & Herz LLP Announces That a Class Action Lawsu...
January 29 2016 - 6:30PM
Wolf Haldenstein Adler Freeman & Herz LLP announces that a
class action lawsuit has been filed in the United States District
Court for the Southern District of New York on behalf of a class
(the "Class") consisting of all persons or entities who purchased
GW Pharmaceuticals plc ("GW Pharmaceuticals" or the "Company")
(NASDAQ:GWPH) American Depository Receipts ("ADRs") between
December 4, 2014 and January 8, 2016 (the "Class Period"),
inclusive.
Shareholders who incurred losses on
shares purchased within the class period are urged to contact the
firm immediately at classmember@whafh.com or (800)
575-0735 or (212) 545-4774.
If you purchased the shares of GW
Pharmaceuticals during the period December 4, 2014 and January 8,
2016, inclusive, you may, no later than March 21,
2016, request that the Court appoint you lead plaintiff of
the proposed class.
On January 10, 2016, the Sunday Times of London
reported that GW Pharmaceuticals had disclosed in its annual report
for the fiscal year ending September 30, 2015, that the Company's
internal financial controls were not effective as of September 30,
2015, and further disclosed that management had determined that it
lacked effective controls over its clinical trials.
Specifically, that the annual report stated management lacked
sufficient control to: (1) evaluate the completeness and accuracy
of the calculation of clinical trial accruals due to the incorrect
allocation of expenditure to clinical studies; or (2) ensure
completeness of clinical trial accruals in connection with
contractual progress payment liabilities.
On this news, GW Pharmaceuticals' American
Depository Receipts ("ADRs") fell $3.55 or almost 6% to close at
$56.31 per share on January 11, 2016. As recently as June 25, 2015,
the ADRs traded close to $134 per share.
Wolf Haldenstein has extensive experience in the
prosecution of securities class actions and derivative litigation
in state and federal trial and appellate courts across the
country. The firm has attorneys in various practice areas;
and offices in New York, Chicago and San Diego. The
reputation and expertise of this firm in shareholder and other
class litigation has been repeatedly recognized by the courts,
which have appointed it to major positions in complex securities
multi-district and consolidated litigation.
If you wish to discuss this action or have any
questions regarding your rights and interests in this case, please
immediately contact Wolf Haldenstein Adler Freeman & Herz LLP
by telephone at (800) 575-0735, via e-mail at
classmember@whafh.com, or visit our website at www.whafh.com.
All e-mail correspondence should make reference to the “GW
Pharmaceuticals Investigation.”
Attorney Advertising. Prior results do not guarantee or predict
a similar outcome.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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