INVESTOR ALERT: Kirby McInerney LLP Reminds Investors of Investigation of Shareholder Claims Against Sundial Growers Inc.
September 05 2019 - 8:00PM
Business Wire
The law firm of Kirby McInerney LLP is investigating potential
claims against Sundial Growers Inc. (“Sundial” or the “Company”)
(NASDAQ: SNDL). This investigation concerns whether Sundial has
violated federal securities laws and/or engaged in other unlawful
business practices.
On August 1, 2019, Sundial closed its initial public offering
(“IPO”), in which it sold 11 million shares at $13.00 per share for
gross proceeds of $143 million. In the Registration Statement for
the IPO, the Company stated that it produces “produce high-quality,
consistent cannabis.”
On August 19, 2019, MarketWatch reported that cannabis producer
Zenabis Global Inc. had rejected a shipment of 554 kg of cannabis
from Sundial “because it contained visible mold, parts of rubber
gloves and other non-cannabis material, according to people
familiar with the matter.” The same day, the Company confirmed that
it was resolving an “isolated immaterial matter between Sundial and
[a] Licensed Producer.”
Since the IPO, Sundial’s shares have traded as low as $6.89 per
share, or 47% below the $13 offering price.
If you acquired Sundial securities, have information, or would
like to learn more about these claims, please contact Thomas W.
Elrod of Kirby McInerney LLP at 212-371-6600, by email at
investigations@kmllp.com, or by filling out this contact form, to
discuss your rights or interests with respect to these matters
without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm
concentrating in securities, antitrust, and whistleblower
litigation. The firm’s efforts on behalf of shareholders in
securities litigation have resulted in recoveries totaling billions
of dollars. Additional information about the firm can be found at
Kirby McInerney LLP’s website: www.kmllp.com.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: https://www.businesswire.com/news/home/20190905006026/en/
Kirby McInerney LLP Thomas W. Elrod, Esq., (212) 371-6600
investigations@kmllp.com www.kmllp.com
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