Canopy Growth Corp. will pay $13 million to settle a securities class action accusing the cannabis company of misleading investors about its inventory and production facilities, according to federal court papers filed in New Jersey.
The deal, announced Feb. 4, covers people and entities that purchased or acquired Canopy stock between June 27, 2018, and May 28, 2020. Class members who file claims will receive distributions from the settlement fund in proportion to their stock holdings, and Canopy will have an opportunity to terminate the deal if a sufficient number of class members opt out, according to the filing.
The …
