From Trulieve website
On December 17, 2019, a short seller published a report on Trulieve that contained false, slanderous and misleadingstatementsaboutTrulieve. Trulieveimmediatelyissuedapressreleaseandcommencedan investigation into Grizzly Research and the report.
Short selling occurs when an investor borrows a security and sells it on the open market, planning to buy it backlaterforlessmoney.Shortsellersbeton,andprofitfrom,adropinasecurity’sprice. Webelievethis report was designed for that purpose—to create fear and heavy selling in the market based on false, misleading, and fabricated statements.
Shortly after the report was published, a bevy of law firms that chase these price drops announced their intent to file class action lawsuits on behalf of Trulieve shareholders. One such suit has been filed, and Trulieve will vigorously defend this any other frivolous suit brought ag ainst the company as a result of the Grizzly report.
Trulieve is taking legal recourse against Grizzly Reports and any other person or entity responsible for thereport’s creation and publication. We look forward to disproving these fraudulent claims in court, hopefully deterring this firm from using slander to manipulate stock prices in the future. We will protect our brand by ensuring that the trust between Trulieve and its valued customers and shareholders, is never called into question.
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