Faruqi & Faruqi Defeats Motion To Dismiss In Investor Class Action Against CV Sciences


Dillon Hagius Dillon Hagius
Associate

Tel: (212) 983-9330
Fax: (212) 983-9331
E-mail: dhagius@faruqilaw.com

On December 10, 2019, Judge Jennifer A. Dorsey of the District of Nevada denied Defendant CV Sciences, Inc.’s motion to dismiss the Lead Plaintiff’s consolidated amended class action complaint (the “Complaint”).  The Court held that the Complaint sufficiently pled that CV Sciences and select Individual Defendants that served as directors and officers made false and/or misleading statements concerning the status of the patent application for their cannabidiol (CBD) gum.  The Complaint alleged that the Defendants’ statements that their product was “patent-pending,” “patent-protectable,” and “proprietary” were misleading because the Defendants omitted to disclose that, in reality, the United States Patent and Trademark Office had twice rejected their patent application.  

A copy of Judge Dorsey’s order is attached.

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