Investor Deadline Alert: Law Offices of Howard G. Smith Reminds GW Pharmaceuticals plc Investors of Upcoming Lead Plaintiff D...
February 03 2016 - 10:30AM
Business Wire
Law Offices of Howard G. Smith reminds investors of the
upcoming March 21, 2016 deadline to file a lead
plaintiff motion in the class action filed on behalf of investors
who purchased GW Pharmaceuticals plc (“GW Pharmaceuticals” or the
“Company”) (NASDAQ: GWPH) securities between December 4, 2014 and
January 8, 2016, inclusive (the “Class Period”). Investors who
suffered losses on their investment in GW Pharmaceuticals
securities are encouraged to contact the Law Offices of Howard G.
Smith to discuss their legal rights.
GW Pharmaceuticals disclosed in its annual report, “Our
management determined that our control over the completeness and
valuation of clinical trial accruals is not effective.
Specifically, 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. Additionally, we
have not established a sufficiently precise control to ensure
completeness of clinical trial accruals in connection with
contractual progress payment liabilities.”
The complaint alleges that during the Class Period, Defendants
issued materially false and misleading statements to investors
and/or failed to disclose that: (1) GW Pharmaceuticals lacked
effective internal financial controls; (2) GW Pharmaceuticals
lacked effective controls over completeness and valuation of
clinical trial accruals; and (3) as a result, Defendants'
statements about GW Pharmaceuticals’ business, operations, and
prospects were false and misleading and/or lacked a reasonable
basis at all relevant times. When the true details entered the
market, the lawsuit claims that investors suffered damages.
If you purchased GW Pharmaceuticals shares, you may move the
Court no later than March 21, 2016 to request
appointment as lead plaintiff. To be a member of the class you need
not take any action at this time; you may retain counsel of your
choice or take no action and remain an absent member of the Class.
If you wish to learn more about this action, or if you
have any questions concerning this announcement or your rights or
interests with respect to these matters, please contact Howard G.
Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol
Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215)
638-4847, toll-free at (888) 638-4847, or by email
to howardsmith@howardsmithlaw.com, or visit our website
at http://www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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Law Offices of Howard G. SmithHoward G. Smith,
Esquire215-638-4847888-638-4847howardsmith@howardsmithlaw.comwww.howardsmithlaw.com
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