Law Offices of Howard G. Smith announces that a class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of all purchasers of the common stock of CannaVEST Corp. (“CannaVEST” or the “Company”) (OTC:CANV) between May 20, 2013 and April 3, 2014, inclusive (the “Class Period”). CannaVEST develops, produces, markets and distributes hemp-based consumer products to the nutriceutical industry in the United States. The Complaint alleges that throughout the Class Period defendants issued false and misleading statements or failed to disclose that the Company was misrepresenting and inflating its sales and also exaggerating its goodwill. On April 3, 2014, CannaVEST announced that on March 28, 2014, management concluded that the Company’s previously issued financial statements contained in the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2013, June 30, 2013, and September 30, 2013, should no longer be relied upon, and that sales and cost of sales for the quarter ended March 31, 2013, were misstated. If you are a member of the Class described above, you have until June 23, 2014, to move the Court to serve as lead plaintiff, if you meet certain legal requirements. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, Toll Free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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