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Tuesday, July 15, 2014 9:33:26 AM
Not really going to go anywhere, IMO
During most of the period of time covered under the lawsuits (May, 2013 to March, 2014), the number of free-trading shares very low, maybe 20K - 60K shares. Only about 35K shares traded (total!) between May and December of 2013. That part of the class period covered very few people, and not much money.
Also the stock didn't really take off until late January, based on marijuana hype and the CNBC mistake of showing CANV's stock symbol when they were talking about another company with a similar symbol (or vice versa).
I think that these law firms had a real hard time finding enough "harmed" shareholders to make any legal action worthwhile, because the number that was actually harmed was very small.
During most of the period of time covered under the lawsuits (May, 2013 to March, 2014), the number of free-trading shares very low, maybe 20K - 60K shares. Only about 35K shares traded (total!) between May and December of 2013. That part of the class period covered very few people, and not much money.
Also the stock didn't really take off until late January, based on marijuana hype and the CNBC mistake of showing CANV's stock symbol when they were talking about another company with a similar symbol (or vice versa).
I think that these law firms had a real hard time finding enough "harmed" shareholders to make any legal action worthwhile, because the number that was actually harmed was very small.
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