Canopy Growth (CGC) Plunges 10.99% Amid Lawsuit

Canopy Growth (CGC) shares plummeted 10.99% today, marking the lowest level since December 2023, with an intraday decline of 12.90%.

The recent decline in Canopy Growth's stock price can be attributed to a class action lawsuit filed against the company. The Rosen Law Firm is investigating allegations that Canopy Growth misled investors about its business operations. Specifically, it is alleged that the company incurred significant costs related to the production of certain products, which negatively impacted its gross margins and overall financial results. The lawsuit claims that false and misleading statements were made by the company, resulting in investor damages when the true details were revealed. This legal action, concerning events between May 30, 2024, and February 6, 2025, is likely influencing the stock price.