Case Status: ONGOING
CLASS PERIOD START: May 14, 2018
CLASS PERIOD END: April 06, 2020
According to the Complaint, iAnthus Capital Holdings, Inc. is a holding company and, “[t]hrough its wholly-owned subsidiaries, the Company’s principal business activity is to provide Shareholders with diversified exposure to best-in-class licensed cannabis cultivators, processors and dispensaries throughout the United States” by “acquir[ing] and operat[ing] a diversified portfolio of cannabis licenses and investments for Shareholders.”
The Complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s ability to pay its interest obligations under various debenture agreements. As a result of Defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
This case was voluntarily dismissed on April 20, 2020. A related case continues under Docket 20-CV-03135. On July 9, the Court issued an Order consolidating cases and appointing Lead Plaintiff and Counsel. Lead Plaintiff filed a consolidated amended Complaint on September 4. Defendants filed Motions to Dismiss the consolidated amended Complaint on November 20. On August 30, 2021, the Court issued an Order granting Defendants’ Motions to Dismiss. Plaintiff was given leave to amend the Complaint.
Company & Securities Information
Defendant: iAnthus Capital Holdings, Inc.
Sector: Healthcare Industry: Biotechnology & Drugs Headquarters: United States
Ticker Symbol: ITHUF Company Market: OTC-BB Market Status: Public (Listed)
First Identified Complaint:
CLASS PERIOD START: 05/14/2018 CLASS PERIOD END: 04/06/2020
CLASS PERIOD START: 05/14/2018 CLASS PERIOD END: 07/10/2020