Multiple class action lawsuits were filed on behalf of shareholders of a Maryland corporation trading on the NYSE, alleging that the corporation and its officers and directors violated Section 10(b) and 20(a) of the Securities Exchange Act of 1934. The plaintiffs claimed that the defendants exploited a “hot market” by announcing it was entering the growing marijuana-based product business. Multiple derivative suits were also filed and mediated jointly with the securities class actions.
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