Press release
Lawsuit filed for Investors who lost money with shares of Canopy Growth Corporation (NASDAQ: CGC)
Investors who purchased shares of Canopy Growth Corporation (NASDAQ: CGC) have certain options and for certain investors are short and strict deadlines running. Deadline: June 3, 2025. NASDAQ: CGC investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On February 7, 2025, during pre-market hours, Canopy Growth Corporation issued a press release announcing its financial results for the third quarter ("Q3") of its FY 2025. Among other items, Canopy reported that its "[g]ross margin decreased by 400 basis points to 32% in [Q3 2025] compared to [the same quarter the year prior] primarily due 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[.]" These factors contributed to Canopy reporting a wider-than-anticipated Q3 2025 loss of C$1.11 per share compared to the C$0.48 per share loss estimated by analysts.
The same day, Canopy Growth Corporation held a conference call with investors and analysts to discuss its Q3 2025 financial results. During the call, Canopy's Chief Financial Officer, Defendant Judy Hong ("Hong"), revealed that the Company's Claybourne product launch costs were "primarily attributable to [the] higher initial cost to produce Claybourne" products. Defendant Hong also disclosed that the "indirect costs" related to Storz & Bickel vaporizer devices were attributable to, inter alia, shipping costs.
Shares of Canopy Growth Corporation (NASDAQ: CGC) declined from $14.92 per share on April 30, 2024, declined from $0.83 per share on April 04, 2025.
The plaintiff claims that between May 30, 2024 and February 6, 2025, the Defendants made false and/or misleading statements and/or failed to disclose that Canopy had incurred significant costs producing Claybourne pre-rolled joints in connection with the Claybourne product launch in Canada, that the foregoing costs, in addition to certain indirect costs that Canopy incurred in connection with its Storz & Bickel vaporizer devices, were likely to have a significant negative impact on the Company's gross margins and overall financial results, that accordingly, Defendants had overstated the efficacy of Canopy's cost reduction measures and the health of its gross margins while downplaying issues with the same, and that as a result, Defendants' public statements were materially false and misleading at all relevant times.
Those who purchased shares of Canopy Growth Corporation (NASDAQ: CGC) have certain options and should contact the Shareholders Foundation.
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 lawsuits, 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.
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