Canopy Growth Corporation USDC – Southern District of New York May 31, 2023 Class Period: 5/31/2022 – 5/10/2023Lead Plaintiff Deadline: 7/24/2023 Join Investigation Principle Contacts Pamela MayerPMayer@kaplanfox.com NEW YORK, NY – May 31, 2023 – Kaplan Fox & Kilsheimer LLP reminds investors that a complaint has been filed on behalf of purchasers of Canopy Growth Corporation (“Canopy Growth” or the “Company”) securities (NASDAQ: CGC) between May 31, 2022 and May 10, 2023, inclusive (the “Class Period”). Click Here to Join Investigation. If you acquired Canopy Growth securities during the Class Period and would like to discuss this case, please click here. You may also contact us by emailing pmayer@kaplanfox.com or calling (646) 315-9003. If you are a member of the proposed Class, you may move the court no later than July 24, 2023 to serve as a lead plaintiff for the purported class. If you have losses, we encourage you to contact us to learn more about the lead plaintiff process. Canopy Growth is a producer, seller and distributor of cannabis products for recreational and medical use, including products sold under the BioSteel Sports Nutrition Inc. (“BioSteel”) brand name. On May 10, 2023, after the market closed, Canopy Growth announced that its consolidated financial statements for the fiscal year ended March 31, 2022 and the quarters ended June 30, September 30 and December 31, 2022 should no longer be relied upon, and would need to be restated. In connection with this news, the Company disclosed that it “identified certain trends in the booking of sales by the [BioSteel] business unit for further review.” Further, Canopy Growth stated that it currently anticipates that “the BioSteel Review generally will focus on the timing of revenue recognition” and that “the correction of misstatements is expected to reduce certain revenues previously recognized. . . .” Following this news, Canopy Growth shares fell $0.18 per share, or nearly 15%, to close at $1.04 per share on May 11, 2023, on heavy trading volume. Based on the May 10, 2023 disclosures, the complaint alleges that throughout the Class Period, the Company improperly booked sales of its BioSteel business and overstated its revenue. WHY CONTACT KAPLAN FOX – Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in securities litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com. This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules. If you have any questions about this Notice, your rights, or your interests, please contact: Pamela MayerKAPLAN FOX & KILSHEIMER LLP800 Third Avenue, 38th FloorNew York, New York 10022(646) 315-9003E-mail: pmayer@kaplanfox.com Laurence D. KingKAPLAN FOX & KILSHEIMER LLP1999 Harrison Street, Suite 1560Oakland, California 94612(415) 772-4704Fax: (415) 772-4707E-mail: lking@kaplanfox.com Connect with Kaplan Fox. Receive a complimentary case review now. Contact Us PowerSchool Holdings, Inc. See the Case Jabil, Inc. See the Case Zoetis, Inc. See the Case Globe Life Inc. See the Case Uniswap Labs See the Case Luna Innovations Incorporated See the Case Perion Network Ltd. See the Case Autodesk, Inc. See the Case Shoals Technologies Group, Inc. See the Case Vuzix Corporation See the Case bluebird bio, Inc. See the Case Sonder Holdings Inc. See the Case
