Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses In Excess Of $100,000 Investing In GW Pharmaceuticals plc To Contact The Firm Before Lead Plaintiff Deadline
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.
If you invested in GW Pharmaceuticals securities from December 4, 2014 through January 8, 2016 and would like to discuss your legal rights, please contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org. Faruqi & Faruqi, LLP also encourages anyone with information regarding GW Pharmaceuticals’ conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Richard W. Gonnello
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330
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