iAnthus Capital Holdings, Inc.
| Company Name | iAnthus Capital Holdings, Inc. |
| Stock Symbol | ITHUF |
| Class Period | May 14, 2018 to April 06, 2020 |
| Lead Plaintiff Motion Deadline | June 15, 2020 |
On April 6, 2020, iAnthus disclosed that it had failed to make certain interest payments, citing the "decline in the overall public equity cannabis markets, coupled with the extraordinary market conditions that began in Q1 2020 due to the novel coronavirus." iAnthus also revealed an internal investigation regarding related party transactions involving the Company's Chief Executive Officer, Hadley Ford.
On this news, the Company's share price fell $0.29, or over 62%, to close at $0.179 per share on April 6, 2020, on unusually heavy trading volume.
The complaint alleges that Defendants failed to disclose that they had the ability to withhold use of the interest payment escrow or that the interest escrow payment was exhausted, diminished, or otherwise unavailable to satisfy the Company's March 31, 2020 interest payment obligations.
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