Law360 (February 16, 2021, 4:17 PM EST) — A New York federal judge granted Curaleaf’s bid Tuesday to toss a proposed securities class action alleging that the cannabis chain caused a drop in its share prices by improperly marketing CBD products, finding that Curaleaf properly disclosed the disputed information about the products’ legality.
U.S. District Judge Brian M. Cogan said Curaleaf “publicly and repeatedly acknowledged the very information that plaintiffs contend it concealed”: the fact that its CBD products are not approved by the U.S. Food and Drug Administration and that the agency may regard their promotion as a violation of established law.
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