openPR Logo
Press release

Lawsuit for Investors in shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF)

04-23-2020 10:43 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in iAnthus Capital Holdings, Inc. (OTC: ITHUF) shares.

A lawsuit was filed on behalf of investors in iAnthus Capital Holdings, Inc. (OTC: ITHUF) shares.

An investor, who purchased shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF), filed a lawsuit over alleged violations of Federal Securities Laws by iAnthus Capital Holdings, Inc.

Investors who purchased shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF) have certain options and for certain investors are short and strict deadlines running. Deadline: June 15, 2020. OTC: ITHUF investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

In May 2018, iAnthus Capital Holdings, Inc entered into the $50 million 2018 Debenture Agreement with Gotham Green Partners ("GGP"). Among other things, that agreement provided for the withholding and escrow of $5,722,222.22 from the 2018 Debenture proceeds to pay one year's interest on the 2018 Debentures in the event of iAnthus' inability to make its interest payments under the agreement.

On September 30, 2019, iAnthus Capital Holdings, Inc and GGP entered into the Amended Debenture Agreement, which provided an additional $20 million to the Company. The Amended Debenture Agreement included the provision from the 2018 Debenture Agreement that provided for the withholding and escrow of $5,722,222.22 to pay one year's interest under the Amended Debenture Agreement in the event that iAnthus was unable to make the required interest payments.

On April 6, 2020, iAnthus Capital Holdings, Inc. disclosed that it had failed to make certain interest payments, citing the "decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 due to the novel coronavirus." iAnthus also revealed an internal investigation regarding related party transactions involving the Company's Chief Executive Officer, Hadley Ford.
Shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF) declined from $7.01 per share on September 2018 to as low as $0.156 per share on April 6, 2020.

The plaintiff claims that between May 14, 2018 and April 6, 2020, the 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, and that as a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices between May 14, 2018 and April 6, 2020.

Those who purchased shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Lawsuit for Investors in shares of iAnthus Capital Holdings, Inc. (OTC: ITHUF) here

News-ID: 2022950 • Views: 600

More Releases from Shareholders Foundation

ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) Investor Alert: Deadline in …
A deadline is coming up on September 28, 2020 in the lawsuit filed for certain investors of ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) over alleged securities laws violations. Investors who purchased shares of ProShares Ultra Bloomberg Crude Oil (NYSEArca: UCO) have certain options and there are strict and short deadlines running. Deadline: September 28, 2020. NYSEArca: UCO stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 -
Investigation announced for Long-Term Investors in shares of Forescout Technolog …
An investigation was announced for long-term investors in shares of Forescout Technologies, Inc. (NASDAQ: FSCT) concerning potential breaches of fiduciary duties by certain directors and officers of Forescout Technologies, Inc.. Investors who are current long term investors in Forescout Technologies, Inc. (NASDAQ: FSCT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for investors in NASDAQ:
Investigation announced for Long-Term Investors in shares of Hebron Technology C …
An investigation was announced concerning potential breaches of fiduciary duties by certain directors of Hebron Technology Co., Ltd.. Investors who are current long term investors in Hebron Technology Co., Ltd. (NASDAQ: HEBT) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm for current long term investors in NASDAQ: HEBT stocks follows a lawsuit filed against Hebron
Investigation announced for Investors in shares of CrossFirst Bankshares, Inc. ( …
An investigation was announced concerning potential securities laws violations by CrossFirst Bankshares, Inc. in connection with certain financial statements. Investors who purchased shares of CrossFirst Bankshares, Inc. (NASDAQ: CFB), have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554. The investigation by a law firm focuses on whether certain statements by CrossFirst Bankshares, Inc. regarding its business, its prospects and its operations were materially false

All 5 Releases


More Releases for Capital

Capital Training
Capital Training is a group of Coaching and Training Professionals based in Northern California that offers executive coaching, helpful training workshops, and even free consultations. This team of Instructional Designers, Soft-Skills Trainers, ICF Coaches and Technical Writers are alongside their clients every step of the way to ensure they get the leadership skills and support they need. The consolidated experience and knowledge of Capital Training promise to give you the
Venture Capital Investment Market 2018-2025 Emerging Trend - Benchmark Capital, …
ReportsWeb.com has announced the addition of the “Global Venture Capital Investment Market Size Status and Forecast 2025” report detailed insights about the aspects responsible for augmenting as well as restraining market growth and analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios. This report studies the global Venture Capital Investment market size, industry status and forecast,
Capital Safety Australia
Fall protection for penetrations and openings in construction, civil and confined space applications! DBI-SALA, a Capital Safety brand solely dedicated to the fall protection market, has announced the launch of their NEW PenoGuard™ fall protection system. PenoGuard is a new and revolutionary safety device that dramatically increases the safety of workers around penetrations that are commonly seen in construction, civil works and confined space applications. Penoguard has numerous safety factors that
: NAPLES CAPITAL MANAGEMENT LAUNCHES
PRESS RELEASE NOVEMBER 29, 2010 SUBJECT: NAPLES CAPITAL MANAGEMENT LAUNCHES NEW WEB SITE Naples Capital Management LLC today announced the launch of its new web site. Dennis Fogarty, founder and managing director, said, “the company has expanded its services to the financial, media and entertainment industries and the company needed to expand
CleanTech Venture Capital Interest
Keynote speaker to share the vision for CleanTech and Venture Capital Funding at EngEx 2010 SAN DIEGO – CleanTech start-ups are grabbing increased interest and investments from venture capital groups that placed almost $2 billion into eco-friendly companies last year and increased the funding pace with another $773 million during the first quarter of 2010. Clean energy business owners and industry professionals attending EngEx 2010 will hear more about the
Belvedere capital real estates
Belvedere Capital Real Estate Partners is a private investment firm founded in 1994 to own, operate and invest in real estate. Since inception Belvedere Capital, along with various institutional and private partners, has invested in more than 10 million square feet of office, industrial and retail properties and approximately 2,000 residential apartments. The company remains focused on its primary market, the New York metropolitan area, but is also focused on