Article by Graham Slaughter, CTV News
Canada’s cannabis industry could be in for another hit.
At least nine U.S. law firms have launched proposed class-action lawsuits in American courts against three major Canadian cannabis producers: Canopy Growth, Aurora Cannabis and Hexo Corp. While they vary from case-to-case, the allegations include releasing misleading inventory information and overstating the potential for sales.
To make matters worse for the industry, cannabis stocks have dropped 75 per cent in the past two years, down to US$44 per share currently compared to US$180 in Jan. 2018, according to the global cannabis stock index.