INVESTOR ALERT: Federman & Sherwood Investigates CannaVEST Corp. for Possible Securities Laws Violations
Oklahoma City, OK (April 15, 2014) – The law firm of Federman & Sherwood has launched an investigation of CannaVEST Corp. [OTC: CANV] (“CANV” or “the Company”) for possible violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and/or breaches of fiduciary duty by the Company’s officers and directors during the period of May 20, 2013 and April 3, 2014.
Federman & Sherwood’s investigation surrounds whether the Company violated specific sections of the Securities Exchange Act of 1934 by virtue of the Company’s failure to disclose that its financial statements for the first three (3) quarters of 2013 were allegedly false and misleading and could not be relied upon. CannaVEST further stated that assets acquired related to PhytoSPHERE Systems was not allocated properly and in accordance with Generally Accepted Accounting Principles (“GAAP”), and therefore sales and cost of sales for the Company's quarter ended March 31, 2013 were incorrect. Following these revelations by CANV on April 3, 2014, the value of CANV shares declined by approximately 20 percent after the market closed on that day.
If you currently own common stock in CannaVEST Corp., have any information to assist in our investigation, or have questions or concerns regarding this notice or your rights or interests in this matter, please contact us at email@example.com. Federman & Sherwood has extensive nationwide experience in representing investors in securities, derivative and merger-related shareholder class actions, and has been appointed as lead counsel in multiple complex cases across the country.
Posted on Tue, April 15, 2014
by K. Lynn Nunn filed under