Trulieve Cannabis Corp. (TCNNF)


Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Trulieve Cannabis Corp. To Contact The Firm 

Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Trulieve Cannabis Corp. (“Trulieve” or the “Company”) (Other OTC:TCNNF) of the February 28, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. 

If you invested in Trulieve stock or options between September 25, 2018 and December 17, 2019 and would like to discuss your legal rights, please fill out the form below.  There is no cost or obligation to you. 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.  The lawsuit has been filed in the U.S. District Court for the Eastern District of New York on behalf of all those who purchased Trulieve securities between September 25, 2018 and December 17, 2019 (the “Class Period”).  The case, McNear v. Trulieve Cannabis Corp. et al., Docket No. 1:19-cv-07289 was filed on December 30, 2019.

The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Trulieve overstated its mark-up on its biological assets; (2) therefore, Trulieve’s reported gross profit was inflated; (3) Trulieve engaged in an undisclosed related party real estate sale with Defendant Rivers’ husband; and (4) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On December 17, 2019, during market hours, Grizzly Research published a report (the “Report”) explaining that Trulieve had failed to disclose: (1) real estate transactions with insiders; (2) that rather than high-quality indoor production, the vast majority of the Company’s marijuana was produced in low quality hoop houses; and (3) the Company’s markup on biological assets was excessive and unreasonable.

On this news, the Company's stock price fell from $11.91 per share on December 16, 2019 to $10.40 per share on December 17, 2019: a $1.51 or 12.68% drop.

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Trulieve Cannabis Corp. (TCNNF)

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Details

Filed on 01/03/2020

Ticker Other OTC:TCNNF

Lead Plaintiff Deadline 02/28/2020

Office

685 Third Avenue 26th Floor

10017 New York, New York

Phone (212) 983-9330

Fax (212) 983-9331

Counsel

Richard W. Gonnello rgonnello@faruqilaw.com Phone (212) 983-9330 Fax (212) 983-9331

Finding us

Our Offices


Our offices are nationwide. If you have any questions about a case or our firm, please contact us.

New York

685 Third Avenue 26th Floor
New York, New York 10017
(212) 983-9330
(877) 247-4292
(212) 983-9331

California

10866 Wilshire Boulevard Suite 1470
Los Angeles, California 90024
(424) 256-2884
(424) 256-2885

Delaware

3828 Kennett Pike Suite 201
Wilmington, Delaware 19807
(302) 482-3182
(302) 482-3612

Georgia

3975 Roswell Rd Suite A
Atlanta, Georgia 30342
(404) 847-0617
(404) 506-9534

Pennsylvania

1617 JFK Boulevard, Suite 1550
Philadelphia, Pennsylvania 19103
(215) 277-5770
(215) 277-5771

Faruqi & Faruqi office in New York, New York

Faruqi & Faruqi office in Los Angeles, California

Faruqi & Faruqi office in Wilmington, Delaware

Faruqi & Faruqi office in Atlanta, Georgia

Faruqi & Faruqi office in Philadelphia, Pennsylvania