World News: 18:06 GMT Wednesday 11th September 2019. [Wolf Haldenstein Adler Freeman & Herz LLP via Globe Newswire via SPi World News]
NEW YORK, Sept. 11, 2019 (GLOBE NEWSWIRE) -- announces that it is investigating potential claims on behalf of purchasers of investigating potential claims against Sundial Growers Inc. (“Sundial” or the “Company”) (NASDAQ: SNDL). This investigation concerns whether Sundial has violated federal securities laws and/or engaged in other unlawful business practices.
Sundial Growers Inc. operates as a pharmaceutical company. The Company produces and grows a range of cannabis strains. Sundial Growers serves customers in Canada. On August 1, 2019, Sundial closed its initial public offering (“IPO”), in which it sold 11 million shares at $13.00 per share for gross proceeds of $143 million. In the Registration Statement for the IPO, the Company stated that it produces “produce high-quality, consistent cannabis.”
On August 19, 2019, MarketWatch reported that cannabis producer Zenabis Global Inc. had rejected a shipment of 554 kg of cannabis from Sundial “ The same day, the Company confirmed that it was resolving an “ Since the IPO, Sundial’s shares have traded as low as $6.89 per share, or 47% below the $13 per share offering price. has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
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Wolf Haldenstein Adler Freeman & Herz LLP Gregory Stone, Director of Case and Financial AnalysisEmail: or Tel: (800) 575-0735 or (212) 545-4774
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Globe Newswire: 18:06 GMT Wednesday 11th September 2019
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