This lawsuit is for anyone who acquired securities in Canopy Growth Corporation (NASDAQ: CGC) from May 31, 2022 through May 10, 2023.
The lawsuit alleges that the Company and certain of its executives violated federal law. Specifically, the lawsuit alleges that the Company misled investors regarding its financial condition. More specifically, the lawsuit alleges that, throughout the class period mentioned above, the Company misled investors by telling investors the Company had controls in place to assure proper accounting but then by improperly booking sales of the Company’s BioSteel business unit.
On May 10, 2023, after the market closed, Canopy Growth announced that its audited consolidated financial statements for the fiscal year ended March 31, 2022 and the quarters ended June 30, 2022, September 30, 2022 and December 31, 2022 should no longer be relied upon, and would need to be restated. The Company also disclosed that it “identified certain trends in the booking of sales by the [BioSteel] business unit for further review.” The Company specified that “although the BioSteel Review remains ongoing, the Company has preliminarily identified material misstatements” and that “the correction of the misstatements is expected to reduce certain revenues previously recognized.” On this news, the price of the Company’s stock dropped precipitously on unusually heavy trading volume.
The Law Offices of Howard G. Smith seeks to recover damages on behalf of class members. If you acquired securities in Cutera, Inc. (NASDAQ: CUTR) from February 17, 2021 through May 9, 2023 you may join the lawsuit by submitting your information online, or you may call the Law Offices of Howard G. Smith and speak to Mr. Smith directly to learn how he can protect your rights.
3070 Bristol Pike, Suite 112, Bensalem, PA 19020 
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hsmith@howardsmithlaw.com