Reminder: Canopy Growth Corp. Investors Notified of Class Action Lawsuit by Robbins LLP

Robbins LLP is currently reminding shareholders about a class action lawsuit filed against Canopy Growth Corp. The lawsuit pertains to anyone who bought or acquired Canopy Growth Corp. securities between May 30, 2024, and Feb. 6, 2025. Canopy Growth Corp. is known for its production, distribution, and sales of cannabis and hemp-based products for both medical and recreational use.

The lawsuit alleges that Canopy Growth Corp. misled investors about its cost-cutting initiatives. During the specified period, the company allegedly failed to disclose significant costs incurred in producing Claybourne pre-rolled joints in relation to the Claybourne product launch in Canada. Additionally, there were indirect costs linked to the production of Storz & Bickel vaporizer devices that were likely to have a substantial adverse effect on the company’s gross margins and overall financial performance. It is claimed that the defendants overstated the effectiveness of Canopy’s cost reduction measures while understating issues with their margins.

On Feb. 7, 2025, Canopy Growth Corp. announced disappointing financial results attributing them primarily to the incremental costs related to the Claybourne infused pre-roll launch in Canada and an increase in indirect costs of Storz & Bickel vaporizer devices. This announcement resulted in a 27.24% drop in Canopy’s share price, closing at $2.02 on Feb. 7, 2025.

Shareholders who purchased Canopy Growth Corp. securities within the mentioned time frame could potentially participate in the class action against the company. Those interested in serving as the lead plaintiff for the class need to contact Robbins LLP before June 3, 2025. The lead plaintiff essentially represents other class members in directing the litigation. Those who opt not to participate in the case can still be eligible for reimbursement and can remain as absent class members.

It’s important to note that all legal representation in this case operates on a contingency fee basis, meaning that shareholders will not incur any fees or expenses. For more information on the class action against Canopy Growth Corp., interested individuals are encouraged to visit the relevant legal resources.

In conclusion, Robbins LLP is actively reminding Canopy Growth Corp. investors about the ongoing class action lawsuit. Shareholders who bought or acquired the company’s securities between May 30, 2024, and Feb. 6, 2025, are urged to explore their options for potential participation in the legal proceedings against the company.