NEW ORLEANS, LA (STL.News) Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into CV Sciences, Inc. (OTC: CVSI).
In 2016, the Company filed a patent application with the U.S. Patent Trademark Office (“USPTO”) for its lead product, CVSI-007. On December 14, 2017, the USPTO issued a final rejection for the Patent Application for CVSI-007, affirming its first rejection previously made on April 27, 2017 and sent to the Company on June 6, 2017. However, the Company failed to disclose the rejection to shareholders, instead consistently touting CVSI-007 as being “patent-pending,” “proprietary,” and “patent-protectable.” Then, on August 20, 2018, the rejections of the patent application and the Company’s failure to disclose them were publicly revealed in a Tweet issued by Citron Research.
Thereafter, the Company and certain of its executives were sued in securities class action lawsuits, charging them with failing to disclose material information during the Class Period, violating federal securities laws. Recently, the court in that consolidated case denied the Company’s motion to dismiss, allowing the case to move forward.
KSF’s investigation is focusing on whether CV’s officers and/or directors breached their fiduciary duties to CV’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of CV Sciences, Inc. shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at (877) 515-1850 or email KSF Managing Partner Lewis Kahn (firstname.lastname@example.org), or visit https://www.ksfcounsel.com/cases/otc-cvsi/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.