BENSALEM, Pa.–(BUSINESS WIRE)–$CRON #fraud–Law Offices of Howard G. Smith announces an investigation on behalf Cronos Group Inc. (“Cronos” or the “Company”) (NASDAQ: CRON) investors concerning the Company and its officers’ possible violations of federal securities laws.
On March 2, 2020, after the market closed, Cronos disclosed an Audit Committee review of revenue recognition of “several bulk resin purchases and sales of products through the wholesale channel.” As a result, Cronos delayed the filing of its annual report for fiscal 2019 and revealed that it expected to report a material inventory write-down for fiscal 2019.
On this news, the Company’s shares fell more than $0.82, or over 13%, during intraday trading on March 3, 2020, thereby injuring investors.
If you purchased Cronos securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to [email protected], or visit our website at www.howardsmithlaw.com.
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