Investigation of iAnthus Capital Holdings, Inc.

iAnthus Capital Holdings, Inc. (ITHUF) Accused of Misleading Shareholders 

In May 2018, iAnthus entered into a $50 million 2018 Debenture Agreement with Gotham Green Partners (“GGP”), later amended to include an additional $20 million, which included the withholding and escrow of $5.722 million from the 2018 Debenture proceeds to pay one year’s interest on the 2018 Debentures in the event of an iAnthus default. After securing this $50 million in financing, iAnthus issued a series of announcements that gave positive representations of its business prospects, including its additional debt and equity offerings to fund the Company’s planned expansion. However, when it came time to pay its March 31, 2020 interest payment to GGP, iAnthus was either unwilling or unable due to unavailability of its escrowed funds to make the payment, and on April 6, 2020, iAnthus issued a press release announcing that it did not make the applicable interest payments due on certain secured and unsecured debentures. On this news, iAnthus’ stock price fell nearly 62% to close at just under $0.18 per share.

If you purchased iAnthus Capital Holdings, Inc. (ITHUF) securities between May 14, 2018 and April 6, 2020, you have until June 15, 2020, to ask the court to be appointed lead plaintiff for the class.

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