Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of GW Pharmaceuticals plc Investors

Glancy Prongay & Murray LLP (“GPM”) announces the filing of a class action lawsuit on behalf of investors who purchased GW Pharmaceuticals plc (the “Company” or “GW Pharmaceuticals”) (NASDAQ:GWPH) securities from December 4, 2014 through January 8, 2016, inclusive (the “Class Period”). GW Pharmaceuticals investors have until March 21, 2016 to file a lead plaintiff motion. Investors who suffered losses on their investment in GW Pharmaceuticals securities are encouraged to contact Lesley Portnoy, Esq. to discuss their legal rights in this class action.

GW Pharmaceuticals disclosed in its annual report, “Our management determined that our control over the completeness and valuation of clinical trial accruals is not effective. Specifically, management does not have sufficiently precise controls to evaluate the completeness and accuracy of the calculation of clinical trial accruals due to the incorrect allocation of expenditure to clinical studies. Additionally, we have not established a sufficiently precise control to ensure completeness of clinical trial accruals in connection with contractual progress payment liabilities.”

The complaint alleges that during the Class Period, Defendants issued materially false and misleading statements to investors and/or failed to disclose that: (1) GW Pharmaceuticals lacked effective internal financial controls; (2) GW Pharmaceuticals lacked effective controls over completeness and valuation of clinical trial accruals; and (3) as a result, Defendants’ statements about GW Pharmaceuticals’ business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

If you purchased shares of GW Pharmaceuticals during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at http://www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160126006370/en/