Investors' Suit Still Too 'Vague,' Pot Co. Tells Calif. Judge

By Emilie Ruscoe (August 3, 2021, 7:44 PM EDT) -- Investors in Canadian cannabis grower PharmaCielo Ltd. still haven't sufficiently described how its failure to disclose problems about its Colombian facilities harmed them, the company and some of its executives told a Los Angeles federal judge.

In a Friday memo supporting their motion to dismiss, PharmaCielo and three of its leaders told U.S. District Judge Philip S. Gutierrez that the second amended complaint currently before the court failed to fix the issues he identified when he dismissed an earlier version of it.

According to PharmaCielo, the investors' revisions only add "vague and conclusory statements from confidential witnesses coupled with a smattering...

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