RM LAW, P.C. announces that a class action lawsuit has been filed on behalf of all persons or entities that purchased CV Sciences, Inc. (“CV Sciences” or the “Company”) (OTC: CVSI) who purchased or otherwise acquired CV Sciences securities between June 19, 2017 and August 20, 2018, inclusive (the “Class Period”).
CV Sciences shareholders may, no later than October 23, 2018, move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of CV Sciences and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (844) 291-9299 or to sign up online, click here.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, defendants failed to disclose that its Patent #15/426,617: (1) received a non-final rejection from the USPTO on April 27, 2017; (2) a final rejection from the USPTO on December 14, 2017; and (3) as a result of the foregoing, Defendants’ statements about CV Sciences’ business, operations, and prospects, were materially false and/or misleading and/or lacked a reasonable basis.
On August 20, 2018, Citron Research alleged that CV Sciences misrepresented the status of one of its key patents. Citron Research said that the Company failed to disclose a rejected patent that the Company “continue[d] to hype.” Following this news, CV Sciences stock dropped over 63%.
If you are a member of the class, you may, no later than October 23, 2018, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member’s claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as “lead plaintiff.” Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain RM LAW, P.C. or other counsel of your choice, to serve as your counsel in this action.