SAN DIEGO, CA / ACCESSWIRE / February 4, 2019 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of 22nd Century Group, Inc. (XXII).
Investors, who purchased shares of 22nd Century Group, Inc. (XXII), have certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.
On October 25, 2018, an article reported that the Securities and Exchange Commission ("SEC") might be actively investigating 22nd Century Group for its involvement in a potential pump and dump scheme. According to the article, a March 2018 exposé revealed that "[f]ake authors" wrote positive stories concerning 22nd Century. The article states that 22nd Century management "has still not explained who authorized or funded the positive articles" or "provided any reasoning for who else could be responsible for these tactics of having fake authors write positive articles."
On January 21, 2019, a lawsuit was filed against 22nd Century Group, Inc over alleged Securities Laws Violations. The plaintiff claims that the defendants made false and/or misleading statements and/or failed to disclose that 22nd Century's stock was prone to manipulation through paid stock promotions, that such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission (the "SEC"), and that consequently, 22nd Century's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Those who purchased 22nd Century Group, Inc. (XXII) shares should contact the Shareholders Foundation, Inc.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. Any referenced cases, investigations, and/or settlements are not filed/initiated/reached and/or are not related to Shareholders Foundation. The information is only provided as a public service. It is not intended as legal advice and should not be relied upon.
SOURCE: Shareholders Foundation Inc.
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