CV Sciences Inc (CVSI)

[Eyeminute2winnit]

Apr 14, 2014 (ACCESSWIRE via COMTEX) -- On Apr. 11, the Rosen Law Firm announces that it is investigating potential securities fraud claims against CannaVest Corp. (otcqb:CANV) resulting from allegations that the company may have issued materially misleading business information to the investing public.

Here is an excerpt from Rosen's press release:

"On Apr. 3, 2014, CANV announced that its Form 10-Qs for the first three quarters of 2013 could no longer be relied upon. Specifically, CANV admitted that the purchase price and the allocation of the purchase price related to PhytoSPHERE Systems as disclosed on the 10-Qs were not in accordance with accounting principles generally accepted in the United States ("GAAP"). In addition, CANV concluded that sales and cost of sales for the quarter ended March 31, 2013 were incorrect. As a result of these adverse disclosures, the value of CANVS stock fell by 20% on April 3, 2014, damaging investors," the release said

Share Value Continues to fall

So far, CannaVest has not responded to these allegations. It must be noted that at this point, no lawsuit has been filed and the allegations at this point are unproven claims.

However, CannaVest's share value continues to plummet, falling from $117 a share just a month ago to $24.21 a share at the close of Apr. 11, down 34 cents from the previous day's close of $24.55.