Investigation of Sundial Growers Inc
Shareholder Alert: Robbins Arroyo LLP is Investigating Sundial Growers Inc. (SNDL)
September 6, 2019 (San Diego, CA & Calgary, Alberta) – Shareholder rights law firm Robbins Arroyo LLP informs shareholders that it is investigating Sundial Growers Inc. (NASDAQ: SNDL) for potential violations of federal securities laws pursuant to its August 2019 initial public offering (“IPO”). Sundial completed its IPO on August 1, 2019, offering shares at $13.00 and generating proceeds of $143 million. In Sundial’s Registration Statement for its IPO, it touted the Company’s production of “high-quality, consistent cannabis.” However, on August 19, 2019, Marketwatch reported that Zenabis Global returned a shipment of more than 1,200 lbs. of cannabis to Sundial “because it contained visible mold, parts of rubber gloves and other non-cannabis material.” Despite Sundial assuring the incident was an “isolated immaterial matter,” its stock has significantly declined. Sundial’s stock currently trades at $7.70 a share, a decline of 40% from its IPO price. Sundial produces, distributes, and sells cannabis for medical and adult recreational access in Canada.
Sundial Growers Inc. (SNDL) Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can send us a message via the Shareholder Information form below.