Cannabis Company Seeks Dismissal Of Shareholder Claims In Stock-Drop Suit

(November 12, 2020, 10:00 AM EST) -- LOS ANGELES — Dismissal of a securities class action lawsuit against a Canadian producer of medicinal-grade cannabis oil and certain of its senior executives is warranted because the lead plaintiffs’ federal securities law claims rely on allegations made in a published report that was nothing more than a “short-seller attack” that were later determined to be incorrect, the defendants argue in an Oct. 21 motion to dismiss filed in California federal court (In re PharmaCielo Ltd. Securities Litigation, No. 20-2182, C.D. Calif.)....