22nd Century Group Inc. Common Stock (AMEX: XXII)
According to the Complaint, 22nd Century Group, Inc. ("22nd Century" or the "Company") provides technology that increases or decreases the nicotine levels and other nicotinic alkaloids in tobacco plants, and cannabinoids in
hemp/cannabis plants through genetic engineering and plant breeding.
The Complaint alleges that throughout the Class Period, Defendants made false and/or misleading statements and/or failed to disclose that: (1) 22nd Century's stock was prone to manipulation through paid stock promotions; (2) such conduct would subject 22nd Century to heightened regulatory scrutiny by the Securities and Exchange Commission; and (3) consequently, 22nd Century's public statements were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On September 6, 2019, the Court transferred this Action from the United States District Court for the Eastern District of New York (19cv00409) to United States District Court for the Western District of New York (19cv01285).