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22nd Century Group, Inc.

Company Name22nd Century Group, Inc.
Stock SymbolXXII
Class PeriodFebruary 18, 2016 to October 25, 2018
Lead Plaintiff Motion DeadlineMarch 22, 2019

On October 25, 2018, an article was published on Seeking Alpha, alleging that 22nd Century was under SEC investigation. On this news, the Company’s share price fell 4.3% to close at $2.45 per share on October 25, 2018, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that: (1) 22nd Century’s stock was prone to manipulation through paid stock promotions; (2) such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and (3) consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.

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