NEW YORK, April 30, 2019 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all persons or entities who purchased or otherwise acquired KushCo Holdings, Inc. (Other OTC: KSHB) securities between July 13, 2017 and April 9, 2019 (the “Class Period”). Investors have until July 1, 2019 to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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The complaint alleges that throughout the class period defendants made materially false and misleading statements regarding the company’s business, operational and compliance policies. Specifically, the complaint alleges that defendants made false and/or misleading statements and/or failed to disclose that: (1) KushCo made material accounting errors in connection with its acquisitions of CMP Wellness, Summit, and Hybrid; (2) as a result, KushCo’s previously issued financial statements as of and for the fiscal years ended August 31, 2018 and August 31, 2017, included in the company’s Annual Reports on Form 10-K for such periods, and financial statements as of and for the quarterly periods ended May 31, 2017, November 30, 2017, February 28, 2018, May 31, 2018 and November 30, 2018, included in the company’s Quarterly Reports on Form 10-Q for such periods, could not be relied upon; (3) KushCo’s net loss for the fiscal year ended August 31, 2018, was more than twice as high than previously reported; (4) KushCo and its management’s assurances that its financial statements for those fiscal years and periods were accurate and fairly reported could not be relied upon; and (5) as a result, the company’s public statements were materially false and misleading at all relevant times.
If you purchased KushCo securities during the Class Period or continue to hold shares purchased before the Class Period, have information, would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Brandon Walker or Melissa Fortunato by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out this contact form. There is no cost or obligation to you.
Bragar Eagel & Squire, P.C. is a New York-based law firm concentrating in commercial and securities litigation. For additional information concerning the KushCo lawsuit, please go to https://bespc.com/kshb/. For additional information about Bragar Eagel & Squire, P.C. please go to www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.
Contacts
Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com