KushCo Holdings Inc

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Case Summary
Company Name: KushCo Holdings Inc
Stock Symbol : OTC: KSHB
Class Period Start: 07/13/2017
Class Period End: 04/09/2019
Lead Plaintiff motion: 07/01/2019
Date Filed: 04/30/2019
Type of Case: Securities Class Action
Court: U.S. District Court for the Central District of California
Summary:

Thieler Law Corp advises investors with losses exceeding $100,000 of the July 1, 2019 lead plaintiff deadline in a class action lawsuit filed against KushCo Holdings Inc (OTC: KSHB) (“KushCo” or “the Company”). The suit is pending in the U.S. District Court for the Central District of California and investors, who purchased KushCo Holdings Inc securities between July 13, 2017 and April 9, 2019, have until July 1, 2019 to move for lead plaintiff. You do not need to move for lead plaintiff to be a member of the Class.

If you purchased KushCo Holdings Inc securities during the Class Period, and have losses over $100,000, you may contact Thieler Law Corp by calling at (619) 377 - 4324 or emailing mail@thielerlaw.com . No class has been certified in this case, and if your losses are less than $100,000 you are still a member of the class.

The complaint alleges that during the Class Period defendants made false and misleading statements and/or allegedly failed to disclose that KushCo made material accounting errors in connection with its acquisitions of CMP Wellness, Summit, and Hybrid; as a result, KushCo’s previously issued financial statements as of and for the fiscal years ended August 31, 2018 and August 31, 2017, included in the Company’s Annual Reports on Form 10-K for such periods, and financial statements as of and for the quarterly periods ended May 31, 2017, November 30, 2017, February 28, 2018, May 31, 2018 and November 30, 2018, included in the Company’s Quarterly Reports on Form 10-Q for such periods, could not be relied upon; KushCo’s net loss for the fiscal year ended August 31, 2018, was more than twice as high than previously reported; and KushCo and its management’s assurances that its financial statements for those fiscal years and periods were accurate and fairly reported could not be relied upon.

On April 9, 2019, the Company issued a press release revealing the Company's decision to restate prior period financial statements for fiscal years 2017 and 2018 for non-cash items related to acquisitions of CMP Wellness, Summit Innovations and Hybrid Creative.

Following this news, OTC: KSHB fell from $5.80 per share on April 9, 2019 to a closing price of $5.35 on April 10, 2019.

If you were negatively impacted by your investment in KushCo Holdings Inc securities between July 13, 2017 and April 9, 2019 and would like to learn more about this lawsuit and your ability to participate as a lead plaintiff, please contact us for your no-cost evaluation.

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