Greenlane Holdings, Inc. (“Greenlane” or “the Company”) (NASDAQ: GNLN), a global house of brands and one of the largest sellers of premium cannabis accessories, child-resistant packaging, and specialty vaporization products, today announced that a complaint filed on December 9, 2019 with the Circuit Court of the Fifteenth Judicial Circuit for Palm Beach County, Florida (“the Court”), Case No. 50-2019-CA-010026, has been dismissed in its entirety for failure to state a cause of action. The plaintiffs in this action had alleged that the Company’s registration statement related for its initial public offering contained material omissions and false or misleading statements. As Greenlane previously announced, a related case in the United States District Court for the Southern District of Florida, concerning the same claims and issues, was dismissed in its entirety with prejudice on January 6, 2021. With these dismissals, there are no further class action securities lawsuits pending against the Company at this time.
“We’re pleased to put this last remaining case behind us and that the Court has dismissed the complaint as we anticipated,” said Aaron LoCascio, Co-Founder and CEO of Greenlane. “As always, we remain committed to communicating transparently as we continue to execute on our strategy to deliver sustained growth and long-term value for our shareholders.”
The plaintiffs in the lawsuits mentioned in this release may pursue appeals.
