Canopy Growth Corp. concealed production costs associated with launching its prerolled cannabis joints in Canada, resulting in disappointing third fiscal quarter of 2025 financial results and its stock’s worst day in almost two years, a proposed class action said.
Share prices slid more than 27% the day Canopy reported a larger-than-anticipated loss of $1.11 Canadian dollars per share for the quarter compared to the CA$0.48 per that analysts had estimated, an investor told the US District Court for the Eastern District of New York. It was the stock’s steepest single-day decline since July 2023, according to data compiled by Bloomberg. …
