You are here
Home 🌿 Marijuana Business News 🌿 GW Pharmaceuticals Investigated For Potential Securities Law Violations 🌿GW Pharmaceuticals Investigated For Potential Securities Law Violations
BOSTON, Jan. 11, 2016 /PRNewswire/ -- GW Pharmaceuticals plc ("GW Pharma" or the "Company") (NASDAQ: GWPH) has dropped precipitously in early trading. It was down as much as 10% after a Sunday Times report referred to weakness in the Company's accounting practices. GW Pharma had stated in its annual report that it "had a material weakness in our internal control over financial reporting for the year ended September 30, 2015."
The Company further stated that its:
management identified a material weakness and concluded that our internal controls over financial reporting were not effective as ofSeptember 30, 2015. … 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...
This marijuana news is brought to you by 420 Intel. For the latest breaking cannabis industry news, subscribe to the 420 Intel newsletter. If you'd like to promote your product or service in this area after every article, contact us.
420 Intel is Your Source for Marijuana News
420 Intel Canada is your leading news source for the Canadian cannabis industry. Get the latest updates on Canadian cannabis stocks and developments on how Canada continues to be a major player in the worldwide recreational and medical cannabis industry.
420 Intel Canada is the Canadian Industry news outlet that will keep you updated on how these Canadian developments in recreational and medical marijuana will impact the country and the world. Our commitment is to bring you the most important cannabis news stories from across Canada every day of the week.
Marijuana industry news is a constant endeavor with new developments each day. For marijuana news across the True North, 420 Intel Canada promises to bring you quality, Canadian, cannabis industry news.
You can get 420 Intel news delivered directly to your inbox by signing up for our daily marijuana news, ensuring you’re always kept up to date on the ever-changing cannabis industry. To stay even better informed about marijuana legalization news follow us on Twitter, Facebook and LinkedIn.