IMPORTANT SHAREHOLDER ALERT: Brower Piven Encourages Investors Who Have Losses in Excess of $100,000 from Investment in GW Ph...
February 23 2016 - 4:27PM
Business Wire
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160223006965/en/
Brower Piven, A Professional CorporationCharles J. Piven,
410-415-66161925 Old Valley RoadStevenson, Maryland
21153hoffman@browerpiven.com
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