Sparse Scienter Allegations Doom Investor Claims Against Marijuana Grower

Mealey's (January 4, 2022, 2:40 PM EST) -- TALLAHASSEE, Fla. — Lead plaintiffs in a securities class action against a medical marijuana grower and others have failed to amend their pleadings to allow them to sufficiently plead scienter in alleging that the defendants misrepresented the quality of their growing facilities and failed to disclose related-party transactions in violation of federal securities laws, a federal judge in Florida ruled Dec. 30 in dismissing the lead plaintiffs’ second amended complaint with prejudice....