Canadian Hemp Co. Sheds SDNY Stock Drop Suit

By Sarah Jarvis (October 1, 2021, 4:45 PM EDT) -- Sundial Growers Inc. has escaped a stock drop suit brought by investors that accused the Canadian hemp company of lying about being able to quickly export hemp and CBD to European countries, with a federal judge finding that challenged statements weren't materially false or misleading.

In a Thursday opinion dismissing the case with prejudice, U.S. District Judge Andrew L. Carter Jr. said various statements the company made in investor presentations, which were challenged by the group of private investment firms that brought the suit, are either protected, forward-looking statements or weren't sufficiently alleged to be misleading at the time they were...

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