NEW YORK, Feb. 9, 2016 /PRNewswire/ -- Faruqi
& Faruqi, LLP, a leading national securities law firm, reminds
investors in GW Pharmaceuticals plc ("GW Pharmaceuticals" or the
"Company") (NasdaqGM:GWPH) of the March 21,
2016 deadline to seek the role of lead plaintiff in a
federal securities class action lawsuit filed against the Company
and certain officers.
The lawsuit has been filed in the U.S. District Court for the
Southern District of New York on
behalf of all those who purchased GW Pharmaceuticals' American
Depositary Receipts from December 4,
2014 through January 8, 2016
(the "Class Period"). The case, Urban v. GW
Pharmaceuticals PLC et al, No. 1:16-cv-00472, was filed on
January 21, 2016 and has been
assigned to Judge Robert W.
Sweet.
The lawsuit focuses on whether the Company and its executives
violated federal securities laws by failing to disclose that the
Company lacked effective internal financial controls over
completeness and valuation of clinical trial accruals.
Specifically, the lawsuit alleges that on January 10, 2016, it was revealed that GW
Pharmaceuticals disclosed to the SEC material weaknesses in its
internal control over financial reporting for the year ended
September 30, 2015. On this
news, Company share price fell $3.55
to close at $56.31 per share on
January 11, 2016—a nearly 6%
drop.
Request more information now by clicking here:
www.faruqilaw.com/GWPH. There is no cost or obligation to
you.
Take Action
If you invested in GW Pharmaceuticals securities from
December 4, 2014 through January 8, 2016 and would like to discuss your
legal rights, visit www.faruqilaw.com/GWPH. 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 GW
Pharmaceuticals' conduct to contact the firm, including
whistleblowers, former employees, shareholders and others.
The court-appointed lead plaintiff is the investor with the
largest financial interest in the relief sought by the class that
is adequate and typical of class members who directs and oversees
the litigation on behalf of the putative class. Any member of
the putative class may move the Court to serve as lead plaintiff
through counsel of their choice, or may choose to do nothing and
remain an absent class member. Your ability to share in any
recovery is not affected by the decision of whether or not to serve
as a lead plaintiff.
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
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello,
Esq.
rgonnello@faruqilaw.com
Telephone: (877) 247-4292 or (212) 983-9330
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