NEW YORK--(BUSINESS WIRE)--Bernstein Liebhard, LLP, a nationally acclaimed investor rights law firm, is investigating potential securities fraud claims on behalf of shareholders of Sundial Growers Inc. (NASDAQ: SNDL) (“Sundial” or the “Company”) resulting from allegations that Sundial may have issued materially misleading information to the investing public.
If you purchased Sundial securities, and/or would like to discuss your legal rights and options please visit Sundial Shareholder Investigation or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
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, Sundial represented to shareholders that it produces “high-quality, consistent cannabis.”
Just eighteen days later, on August 19, 2019, MarketWatch reported that Zenabis Global Inc., a cannabis producer, 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.”
Since the IPO Sundial’s stock price has fallen substantially below its IPO price, damaging investors.
If you purchased Sundial securities, and/or would like to discuss your legal rights and options please visit https://www.bernlieb.com/cases/sundialgrowersinc-sndl-shareholder-class-action-lawsuit-stock-fraud-178/apply/ or contact Matthew E. Guarnero toll free at (877) 779-1414 or MGuarnero@bernlieb.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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