22nd Century Group, Inc. (XXII) $3M Investor Settlement
22nd Century Group, Inc. (XXII) agreed to settle $3 million with Investors to avoid further litigation.
Those, who during the period from February 18, 2016, and July 31, 2019, inclusive purchased or otherwise acquired 22nd Century Group, Inc. securities and were allegedly damaged thereby, may be entitled to a payout.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that:
22nd Century’s stock was prone to manipulation through paid stock promotions;
such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and
consequently, 22nd Century’s public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.