Class-Action Lawsuit Against HEXO Dismissed “In Its Entirety”

A class-action lawsuit filed against marijuana producer HEXO (NYSE: HEXO) for supposedly making material misstatements to investors and omitting material information about revenue, supply agreements, and facilities it acquired has been dismissed “in its entirety.”According to HEXO, the federal court for the Southern District of New York agreed with its assertion that the plaintiffs “failed to allege actionable misstatements or omissions” under U.S. securities laws, while also rejecting the contention HEXO engaged in fraudulent or reckless conduct over its disclosures.The marijuana grower did note, however, that while the suit was completely dismissed, the plaintiffs have the right to appeal the decision.Continue reading
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