Pomerantz to Serve as Co-Lead Counsel in Securities Class Action against Cannabis Company Canopy Growth

Pomerantz has been named co-lead counsel in a securities class action against Canopy Growth Corporation concerning alleged material misstatements and omissions related to the company’s financial performance and internal controls.

Pomerantz Named Lead Counsel in Securities Suit Against Rite Aid

On Friday, June 16th, U.S. District Judge Kelley Hodge of the U.S. District Court for the Eastern District of Pennsylvania named Pomerantz LLP as Lead Counsel on behalf of the plaintiffs in In re Rite Aid Corporation Sec. Lit. no. 2:22-cv-04201. The case alleges that Rite Aid misled investors about the growth of its Elixir pharmacy benefit management program. With over 2,000 stores, Rite Aid is one of America’s largest pharmacies. In 2015, in order to compete with companies like Walgreens and CVS, Rite Aid purchased a pharmacy benefit management company called EnvisionRx, which they rebranded Elixir. Rite Aid leadership was positive about Elixir’s prospects.

Pomerantz Named Lead Counsel in Alphabet Investor Suit

On Friday, June 9th, U.S. District Judge Richard Seeborg of the U.S. District Court for the Northern District of California named Pomerantz LLP as Lead Counsel on behalf of the plaintiffs in AMI — Government Employees Provident Fund Management Co. Ltd. v. Alphabet Inc. et al., No. 3:23-cv-01186. Pomerantz’s client Menora Mivtachim Insurance Ltd. and its subsidiaries Menora Mivtachim Pensions and Gemel Ltd. will serve as Lead Plaintiffs. The suit alleges that Google and its parent company Alphabet misled investors about the nature of its anticompetitive business practices and the potential of those practices to elicit regulatory scrutiny.