SAN DIEGO & CALGARY, Alberta–(BUSINESS WIRE)–$SNDL #ClassAction–Shareholder rights law firm Robbins Arroyo LLP informs shareholders that it is investigating Sundial Growers Inc. (NASDAQ: SNDL) for potential violations of federal securities laws pursuant to its August 2019 initial public offering (“IPO”). Sundial completed its IPO on August 1, 2019, offering shares at $13.00 and generating proceeds of $143 million. In Sundial’s Registration Statement for its IPO, it touted the Company’s production of “high-quality, consistent cannabis.” However, on August 19, 2019, Marketwatch reported that Zenabis Global returned a shipment of more than 1,200 lbs. of cannabis to Sundial “because it contained visible mold, parts of rubber gloves and other non-cannabis material.” Despite Sundial assuring the incident was an “isolated immaterial matter,” its stock has significantly declined. Sundial’s stock currently trades at $7.70 a share, a decline of 40% from its IPO price. Sundial produces, distributes, and sells cannabis for medical and adult recreational access in Canada.
If you suffered a loss as a result of Sundial’s misconduct, click here.
Sundial Growers Inc. (SNDL) Shareholders Have Legal Options
Contact us to learn more:
Leo Kandinov
(800) 350-6003
[email protected]
Shareholder Information Form
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
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Contacts
Leo Kandinov
Robbins Arroyo LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsarroyo.com
