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

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.