22nd Century Group, Inc. (XXII) Accused of Inflating Stock

According to the complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between February 18, 2016 and October 25, 2018, news of 22nd Century's stock promotion scheme first came to light in February 2018. Fuzzy Panda Research published a Seeking Alpha article claiming that 22nd Century's stock price had been inflated through various paid stock promotion articles from 2014 through 2017, some of which had disclosed the paying party and amount, and others which did not. On this news, 22nd Century shares fell over 11%. Then, in October 2018, Fuzzy Panda Research disclosed in another Seeking Alpha article that its requests from the U.S. Securities and Exchange Commission pertaining to investigations of 22nd Century Group for the time period January 2016 to July 2016 had been denied because releasing the documents could "reasonably be expected to interfere with on-going enforcement proceedings." On this news, 22nd Century's stock fell again to close at $2.45 per share on October 25, 2018.

22nd Century Group, Inc. (XXII) Shareholders Have Legal Options

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