Pomerantz LLP is investigating claims on behalf of investors of CV Sciences, Inc. ("CV Sciences" or the "Company") (OTCMKTS: CVSI). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 9980.
The investigation concerns whether CV Sciences and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On August 20, 2018, Citron Research ("Citron") published a report addressing a CV Sciences patent application for CVSI-007 titled "Pharmaceutical Formulations Containing Cannabidiol and Nicotine For Treating Smokeless Tobacco Addiction" (the "Patent"). According to the Citron report, the U.S. Patent and Trademark Office ("USPTO") made a non-final rejection decision and mailed CV Sciences a letter indicating the non-final rejection status of its Patent on June 6, 2017, and then made a final rejection decision and mailed CV Sciences a letter indicating the final rejection status of its Patent on December 20, 2017. The Citron report alleged that CV Sciences never disclosed to investors the USPTO's decisions concerning the Company's Patent.
On this news, CV Sciences' stock price fell $2.40, or 36.31%, to close at $4.21 on August 20, 2018.