Investors Did Not Allege Scienter In Suit Over Sports Drink Claims, Judge Says

(July 23, 2024, 8:28 AM EDT) -- NEW YORK — A federal judge in New York dismissed with prejudice a putative class complaint in which investors claimed that a cannabis health care company and certain of its executives misled them about the success of a sports drink subsidiary, finding that the investors failed to plead scienter by relying too much on confidential witnesses they failed to show had access to the information they claimed to have had....