The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CGC, HEXO and MHK

NEW YORK, NY / ACCESSWIRE / January 9, 2020 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. There is no cost to participate in the suit. If you suffered a loss, you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.

Canopy Growth Corporation (NYSE:CGC)
Class Period: June 21, 2019 to November 13, 2019
Lead Plaintiff Deadline: January 21, 2020

According to the complaint, Canopy Growth Corporation allegedly made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Learn about your recoverable losses in CGC: http://www.kleinstocklaw.com/pslra-1/canopy-growth-corporation-loss-submission-form?id=5217&from=1

HEXO Corp. (NYSE:HEXO)
Class Period: January 25, 2019 to November 15, 2019
Lead Plaintiff Deadline: January 27, 2020

The complaint alleges that during the class period HEXO Corp. made materially false and/or misleading statements and/or failed to disclose that: (1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value; (2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors; (3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

Learn about your recoverable losses in HEXO: http://www.kleinstocklaw.com/pslra-1/hexo-corp-loss-submission-form?id=5217&from=1

Mohawk Industries, Inc. (NYSE:MHK)
Class Period: April 28, 2017 to July 25, 2019
Lead Plaintiff Deadline: March 3, 2020

The filed complaint alleges that, faced with slowing demand for its conventional flooring products, the Company engaged in a scheme to inflate its revenues and earnings by booking fictitious sales of those products. This practice is known as channel stuffing and was used by Mohawk to hide severely declining demand for conventional flooring products. Throughout the Class Period, Defendants made false and/or misleading statements about Mohawk's sales growth and the demand for the Company's conventional flooring products. Defendants also reassured investors about Mohawk's increasing accounts receivable and inventory levels by falsely attributing those increases to external factors like rising raw material costs and inflation. As a result of these misrepresentations, shares of Mohawk's common stock traded at artificially inflated prices during the Class Period.

Learn about your recoverable losses in MHK: http://www.kleinstocklaw.com/pslra-1/mohawk-industries-inc-loss-submission-form?id=5217&from=1

Your ability to share in any recovery doesn't require that you serve as a lead plaintiff. If you suffered a loss during the class period and wish to obtain additional information, please contact J. Klein, Esq. by telephone at 212-616-4899 or visit the webpages provided.

J. Klein, Esq. represents investors and participates in securities litigations involving financial fraud throughout the nation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:
J. Klein, Esq.
Empire State Building
350 Fifth Avenue
59th Floor
New York, NY 10118
jk@kleinstocklaw.com
Telephone: (212) 616-4899
Fax: (347) 558-9665
www.kleinstocklaw.com

SOURCE: The Klein Law Firm

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