Claims In Securities Suit Against Cannabis Company Dismissed

(June 8, 2020, 3:48 PM EDT) -- NEW YORK — Investors in a Canadian cannabis products company failed to show that statements the company and certain of its executive officers and directors made in the offering documents for an initial public offering (IPO) were materially false and misleading because the alleged misrepresentations amounted to inactionable puffery and corporate optimism, a New York justice ruled May 15 (In re Sundial Growers Inc. Securities Litigation, No. 655178/2019, N.Y. Sup., New York Co.)....

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