|By Marketwired .||
|June 20, 2014 09:30 AM EDT||
NEW YORK, NY -- (Marketwired) -- 06/20/14 -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in CannaVEST Corporation ("CannaVEST" or the "Company") (OTCQB: CANV) of the June 23, 2014 deadline to seek the role of lead plaintiff in a federal securities class action lawsuit filed against CannaVEST and certain executives and directors.
A complaint has been filed in the Southern District of New York on behalf of all persons who purchased CannaVEST common stock between May 20, 2013 and April 3, 2014, inclusive (the "Class Period").
The complaint alleges that the Company and its executives violated federal securities laws with respect to its disclosures concerning its business, operations, and prospects.
Specifically, the action alleges that throughout the Class Period, the Company made false and/or misleading statements and/or failed to disclose that CannaVEST overstated its sales for the quarter ended March 31, 2013 by over 17% and misstated its goodwill by over 1300%.
On April 3, 2014, the Company announced in a Form 8-K that it had made material errors in its Form 10-Qs for the first three quarters of 2013.
Following this news, the Company's shares declined by $6.76 per share, or over 21%, to close at $25.30 per share on April 3, 2014.
Request more information now by clicking here: www.faruqilaw.com/CANV. There is no cost or obligation to you.
If you invested in CannaVEST stock or options between May 20, 2013 and April 3, 2014 and would like to discuss your legal rights, visit www.faruqilaw.com/CANV. You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to [email protected]. Faruqi & Faruqi, LLP also encourages anyone with information regarding CannaVEST's conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
Faruqi & Faruqi, LLP is a national law firm which represents investors and individuals in class action litigation. The firm is focused on providing exemplary legal services in complex litigation in the areas of securities, shareholder, antitrust and consumer litigation, throughout all phases of litigation. The firm has an experienced trial team which has achieved significant victories on behalf of the firm's clients. To keep track of the latest securities litigation news, follow us on Twitter at www.twitter.com/MergerActivity or on Facebook at www.facebook.com/FaruqiLaw.
Attorney Advertising. The law firm responsible for this advertisement is Faruqi & Faruqi, LLP (www.faruqilaw.com). Prior results do not guarantee or predict a similar outcome with respect to any future matter. We welcome the opportunity to discuss your particular case. All communications will be treated in a confidential manner.
FARUQI & FARUQI, LLP
369 Lexington Avenue, 10th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
Telephone: (877) 247-4292 or (212) 983-9330
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