Oracle Stock Surges After Hours on TikTok Deal Optimism and OpenAI Fundraising Buzz 
Trump Signals Push for Lower Health Insurance Prices as ACA Premium Concerns Grow 
Citi Appoints Ryan Ellis as Head of Markets Sales for Australia and New Zealand 
Trump Administration Reviews Nvidia H200 Chip Sales to China, Marking Major Shift in U.S. AI Export Policy 
Instacart Stock Drops After FTC Probes AI-Based Price Discrimination Claims 
Apple Opens iPhone to Alternative App Stores in Japan Under New Competition Law 
Roche CEO Warns US Drug Price Deals Could Raise Costs of New Medicines in Switzerland 
ANZ New CEO Forgoes Bonus After Shareholders Reject Executive Pay Report 
TikTok U.S. Deal Advances as ByteDance Signs Binding Joint Venture Agreement 
Delta Air Lines President Glen Hauenstein to Retire, Leaving Legacy of Premium Strategy 
Maersk Vessel Successfully Transits Red Sea After Nearly Two Years Amid Ongoing Security Concerns 
Elliott Management Takes $1 Billion Stake in Lululemon, Pushes for Leadership Change 
Nike Shares Slide as Margins Fall Again Amid China Slump and Costly Turnaround 
FDA Fast-Tracks Approval of Altria’s on! PLUS Nicotine Pouches Under New Pilot Program 
Oracle Stock Slides After Blue Owl Exit Report, Company Says Michigan Data Center Talks Remain on Track 
LG Energy Solution Shares Slide After Ford Cancels EV Battery Supply Deal 
Volaris and Viva Agree to Merge, Creating Mexico’s Largest Low-Cost Airline Group 
WILMINGTON, Del., Feb. 12, 2016 -- Rigrodsky & Long, P.A.:
- Do you, or did you, own shares of GW Pharmaceuticals plc (NASDAQ:GWPH)?
- Did you purchase your shares between December 4, 2014 and January 8, 2016, inclusive?
- Did you lose money in your investment?
Rigrodsky & Long, P.A. announces that a complaint has been filed in the United States District Court for the Southern District of New York on behalf of all persons or entities that purchased the American Depository Receipts (“ADRs”) of GW Pharmaceuticals plc (“GW Pharmaceuticals” or the “Company”) (NASDAQ:GWPH) between December 4, 2014 and January 8, 2016, inclusive (the “Class Period”), alleging violations of the Securities Exchange Act of 1934 against the Company and certain of its officers (the “Complaint”).
If you purchased ADRs of GW Pharmaceuticals during the Class Period, and wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Timothy J. MacFall, Esquire or Peter Allocco of Rigrodsky & Long, P.A., 2 Righter Parkway, Suite 120, Wilmington, DE 19803 at (888) 969-4242; by e-mail to [email protected]; or at: http://rigrodskylong.com/investigations/gw-pharmaceuticals-plc-gwph.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company’s business, operations and prospects. As a result of defendants’ alleged false and misleading statements, the Company’s stock traded at artificially inflated prices during the Class Period.
According to the Complaint, on January 10, 2016, The Sunday Times reported that GW Pharmaceuticals had disclosed in its annual report for the fiscal year ended September 30, 2015 (the “FY 2015 20-F”), filed with the SEC the previous month, that its internal financial controls were not effective as of September 30, 2015, and further disclosed that management had determined that it lacked effective controls over the completeness and valuation of clinical trial accruals. Specifically, the 2015 20-F reported that management lacked sufficiently precise controls: (1) to evaluate the completeness and accuracy of the calculation of clinical trial accruals due to the incorrect allocation of expenditure to clinical studies; or (2) to ensure completeness of clinical trial accruals in connection with contractual progress payment liabilities.
On this news, ADRs of GW Pharmaceuticals dropped almost 6%, closing at $56.31 per share on January 11, 2016, on heavy trading volume.
If you wish to serve as lead plaintiff, you must move the Court no later than March 21, 2016. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Any member of the proposed class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.
Attorney advertising. Prior results do not guarantee a similar outcome.
CONTACT: Rigrodsky & Long, P.A. Timothy J. MacFall, Esquire Peter Allocco (888) 969-4242 (516) 683-3516 Fax: (302) 654-7530 [email protected] http://www.rigrodskylong.com
