FINAL DEADLINE ALERT – Canopy Growth Corporation (CGC) – Bronstein, Gewirtz & Grossman …

NEW YORK, Jan. 20, 2020 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action …

NEW YORK, Jan. 20, 2020 (GLOBE NEWSWIRE) — Attorney Advertising — Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Canopy Growth Corporation (“Canopy” or the “Company”) (CGC) and certain of its officers, on behalf of shareholders who purchased Canopy securities between September 8, 2017 through November 13, 2019, inclusive (the “Class Period”). Such investors are encouraged to join this case by visiting the firm’s site: www.bgandg.com/cgc.

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The complaint alleges that throughout the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) due to the foregoing, defendants’ statements about Canopy’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

If you wish to review a copy of the Complaint you can visit the firm’s site: www.bgandg.com/cgc or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Canopy you have until January 20, 2020 to request that the Court appoint you as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC

Peretz Bronstein or Yael Hurwitz

212-697-6484 | info@bgandg.com

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Canada Releases New Cryptocurrency Guidance

The new Canada guidance came to light in the CSA’s publication named Guidance on the Application of Securities Legislation to Entities Facilitating …

The Canadian Securities Administration (CSA) has issued new guidance for cryptocurrency trade.

The new Canada guidance came to light in the CSA’s publication named Guidance on the Application of Securities Legislation to Entities Facilitating the Trading of Crypto Assets.

It aims to determine the exact virtual currency trading platforms that are subject to derivative laws.

On a general note, the Canadian agency drew a thick line between trading platforms and holders of virtual assets. Accordingly, this line gives a distinction between platforms that make swift delivery of virtual assets. And those that wait for the users to request transactions.

Exchanges under the securities laws

The CSA analyzed trading on diverse platforms. The agency claims that some of them basically offer users either contractual rights or claims to a virtual asset. This means that they don’t transfer the crypto assets to users immediately. Thus, these platforms are subject to securities legislation. They also fall under the stated derivatives laws.

Quoting the agency: “Potentially, there will be ongoing reliance and dependence of the user on the platform until the transfer to a user-controlled wallet is made. Until then, the user won’t enjoy ownership, possession, and control of the crypto assets without reliance on the Platform.”

Canada’s crypto regulation plans

Since Facebook unveiled its Libra plans, regulators around the globe began scrutinizing virtual currency regulations. However, cryptocurrency remains a comparatively new asset class that people don’t clearly understand or even try to define.

Besides, the current securities laws don’t cover every instance where cryptos can be utilized. Rather, the aim of regulators focuses on clarifying when crypto trades fall outside the securities laws of the country.

The Chair of the CSA Louis Morisset also said that the growing landscape of the crypto industry prompted them to clarify the regulatory framework in a bid to support businesses under financial technology.

To remind, the Bank of Canada revealed intentions to create its own cryptocurrency. Also, the National Research Council of Canada launched a blockchain explorer on the Ethereum blockchain for published grants and contributed data.

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Canadian Teen Charged for $50 Million Cryptocurrency Theft

An eighteen-year-old from Montreal is facing four criminal charges connected to a $50 million SIM-swapping scam targeting cryptocurrency holders, …

An eighteen-year-old from Montreal is facing four criminal charges connected to a $50 million SIM-swapping scam targeting cryptocurrency holders, Infosecurity Magazine reported on Jan. 17.

The hacker, Samy Bensaci, is accused by Canadian authorities of being part of a ring that stole millions of dollars in cryptocurrency from American and Canadian holders. The theft is said to have occurred in spring of 2018, with Québec police representative Hugo Fournier saying that the hackers were responsible for the theft of “$50 million from our neighbors to the south and $300,000 in Canada.”

Among the purported victims were Don and Alex Tapscott, renowned Canadian crypto entrepreneurs and co-authors of the book “Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World.”

Don Tapscott confirmed to The Star to have been targeted by the scheme, while denying that the hackers succeeded in stealing his funds:

“We can confirm that last year a hacker attempted steal crypto assets from our company and its employees. That attempt was unsuccessful. We cooperated with the police [and] have been impressed with their determination to bring those responsible to justice.”

Bersaci was arrested in Victoria, British Columbia in November 2019. The following month, he was released on a 200,000 Canadian dollar bail ($153,000) and prohibited from accessing any online-capable device, including gaming consoles, as well as owning or exchanging any form of cryptocurrency.

Infosecurity Magazine reports that many of the individuals supposedly targeted by the hackers had attended the Consensus conference in New York. Rob Ross, SIM-swapping victim and manager of StopSIMCrime.org, told Infosecurity Magazine that hackers spot targets during these events.

What is SIM-swapping?

A SIM-swapping attack occurs when the hackers are able to trick the telecom company to transfer the victim’s phone number to the attacker’s SIM card. Though it is possible to do this by impersonating the victim with the telecom’s customer service, the companies are plagued by insiders that use their access to facilitate this type of crime. With a SIM-swap, attackers can bypass most authentication and password recovery mechanisms that rely on phone numbers.

Cointelegraph previously reported many such cases, including an August 2018 victim who sued AT&T for its alleged negligence in preventing the thefts.

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South Korea Planning to Impose 20% Tax on Cryptocurrency Income

A 20% income tax on income generated from cryptocurrency transactions is being considered by South Korea’s Ministry of Economy and Finance.
Market NewsJanuary 20, 2020 by Kelly Cromley

A 20% income tax on income generated from cryptocurrency transactions is being considered by South Korea’s Ministry of Economy and Finance. As per a report published The Korea Times, the ministry has directed income tax department to study cryptocurrency taxation.

The English media outlet, referring to an anonymous official, has reported that the ministry is yet to make its final decision, but pointed out that the government is highly interested in slapping a 20% tax on cryptocurrency related income.

Reports about the suggested income tax rate has come weeks after media reported that South Korea is drafting a new tax structure that takes into account income generated from cryptocurrency trading.

There has been speculation that the government may classify gains generated from cryptocurrency trading as “other income” and not capital gains. Other income category also takes into consideration income generated from lottery purchases, lectures and prizes.

A transparent, uncomplicated plan for cryptocurrency taxation is required in South Korea. This became clear last month when popular South Korean cryptocurrency exchange Bithumb stated that it was studying the possibility of filing a case challenging the $68.90 million tax bill raised by the income tax department.

Bithumb believes that there is no legal basis for such a tax bill. Recent news reports indicate that the exchange is pursuing its plan to file a case in court.

South Korea’s cryptocurrency rules has gone through considerable changes since Park Young Jin, National Policy Committee member representing the governing Democratic Party, unveiled the first crypto tax policy in 2017.

Last year, the National Assembly’s national policy committee endorsed a bill that would provide greater legality to crypto assets by bringing them under higher investigation and government supervision.

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Akon’s AKOIN Cryptocurrency City White Paper to be Live by February 2020

Akon is all set to build a smart green cryptocurrency city in Senegal. AKON city will use AKOIN. The vision for the cryptocurrency city project was …

Akon is all set to build a smart green cryptocurrency city in Senegal. AKON city will use AKOIN. The vision for the cryptocurrency city project was publicized back in 2018, and Akoin will be the sole cryptocurrency of the city. Solar power will be the defining concept of Akon City. The city is set to be powered by renewable energy and, therefore, is set to be an “Eco-Tourism Destination.”

On January 13, 2020, Akon Tweeted: “Just finalized the agreement for AKON CITY in Senegal. Looking forward to hosting you there in the future.”

Akon’s AKOIN Cryptocurrency to Advance Themselves Independent of Government

Sydney Ifergan, Crypto Expert Tweeted: “Akon is moving ahead with something that is still in the form of an idea in the minds of many. Waiting to visit the smart green cryptocurrency city in Senegal.” He further tweeted: “Akon’s love for Africa is seen in his Lighting Africa Initiative. More than ownership, it is philanthropy and empathy to ensure improved lifestyle facilitated with basic necessities.”

Sall, Senegal President, gave 2000 acres to the legendary rapper. The construction of the project has already begun, and the second phase of the project construction is allotted for 2025.

Akon stated, “Cryptocurrency and blockchain technology offers a more secure currency that enables people in Africa to advance themselves independent of the government.”

AKOIN Cryptocurrency City in Senegal

For those who are not sure about the humane feelings that make this project, Akon, in the past, spoke about how it felt to see young children, grown men, and women crying in wonder because it was the first time that they are witnessing artificial light. Children were able to study at night using artificial light, something that was not possible before the coming of the artificial light. The Akon Lighting project changed the world of the “Akon Lighting Area in Africa” for better.

The blockchain technology is proving to be a savior for Africa in several ways by giving power to the people through cryptocurrency. Thus, governments cannot force people down when cryptocurrency can lift them.

The 100% crypto-centric city will serve as a model city for several unbanked economies across the world. The realities of the power of blockchain technology are showing up in real-time in the real-world through philanthropists like Akon.

The website of the legendary rapper states that Akoin will soon be available in 54 African Countries. Their goal is to empower Africa by uniting Africa with cryptocurrency.

The White Paper of Akoin Coin will be live by February 2020.