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Securities

$10M Cronos Group U.S. Securities Settlement (CRON)

Proof or notice ID needed $10M Open for Claims

Investors who bought Cronos Group (NASDAQ: CRON) stock on a U.S. market May 9, 2019 – Mar 30, 2020 can claim from a $10M settlement. Due Nov 9, 2026.

Who qualifies and how to claim

Cronos Group $10 Million Securities Class Action Settlement

September 28, 2026 12:00 PM

Investors who purchased or otherwise acquired publicly traded common stock of Cronos Group Inc. on the Nasdaq or another public U.S. market between May 9, 2019, and March 30, 2020, may be eligible to claim a cash payment from a class action settlement .

Cronos Group agreed to pay $10 million to settle a securities class action lawsuit alleging it and certain executives made false and misleading statements about its revenue. The lawsuit claimed Cronos improperly recognized revenue from three round-trip transactions, leading to restatements that reduced its revenue for the first and third quarters of 2019.

Who can file a claim?

The settlement includes all persons and entities, regardless of country of residence, who purchased or otherwise acquired publicly traded Cronos Group Inc. common stock on the Nasdaq or any other public U.S. market between May 9, 2019, and March 30, 2020, inclusive, and suffered damages as a result.

Additional details

  • Both individuals and entities can be class members.
  • The settlement includes investors who held shares directly and those who held through a broker or other nominee.
  • The actual beneficial owner or a legal representative must submit the claim.
  • Joint owners must each sign the claim form.
  • Executors, administrators, guardians, conservators and trustees may submit claims on behalf of others but must provide documentation proving their authority.
  • Claimants must submit a separate claim form for each account.

How much can class members get?

The total settlement fund is $10,000,000. The amount each class member will receive depends on several factors:

  • The number and value of valid claims submitted
  • The number of shares purchased or acquired during the class period
  • The timing of each purchase, sale and holding
  • The total recognized claims of all claimants

The settlement administrator will distribute payments on a pro rata basis according to the court-approved plan of allocation:

  • The estimated average recovery per eligible share is approximately $0.06 before deductions for attorneys' fees, litigation expenses, taxes and administration costs. The estimated average recovery after these deductions is approximately $0.04 per share.
  • Actual payments may be higher or lower depending on individual claims and the total number of valid claims.
  • The settlement administrator will calculate each class member's payment based on the recognized loss amount assigned to each share.
  • Recognized loss amounts depend on purchase and sale timing. The settlement administrator will calculate them using the court-approved plan of allocation.
  • For shares sold before Feb. 24, 2020, the recognized loss is $0.
  • For shares sold from Feb. 24, 2020, through March 30, 2020, the recognized loss is the lesser of the artificial inflation at purchase minus the artificial inflation at sale ( Table 1 on Page 17 of the settlement notice ) or the purchase price minus the sale price.
  • For shares sold from March 31, 2020, through June 26, 2020, the recognized loss is the lesser of the artificial inflation at purchase, the purchase price minus the average closing price through the sale date ( Table 2 on Page 18 of the settlement notice ) or the purchase price minus the sale price.
  • For shares held as of the close of trading on June 26, 2020, the recognized loss is the lesser of the artificial inflation at purchase or the purchase price minus $6.11 (the average closing price from March 31, 2020, through June 26, 2020).
  • The settlement administrator will set any recognized loss that calculates to a negative number to $0.
  • If total recognized claims exceed the fund, the settlement administrator will reduce payments on a pro rata basis.
  • Class members whose payment would be less than $10 will not receive a payout.

Documents & history

74 court filings since May 2020, the latest on Oct 15, 2026, across 1 docket: 2:20-cv-01310 In re Cronos Group Inc. Securities Litigation (E.D.N.Y).

What has happened

  1. Final approval hearing Hearing · upcoming
  2. Claim deadline Deadline · upcoming
  3. Deadline to opt out or object Deadline · upcoming
  4. MOTION for Attorney Fees, Lead Counsel's Motion for an Award of Attorneys' Fees and Payment of Expenses by Keith D. Norman. (Attachments (ECF 97) Attorneys' fees
  5. MOTION for Settlement, Lead Plaintiff's Motion for Final Approval of Class Action Settlement and Plan of Allocation by Keith D. Norman. (Attachments (ECF 96) Final approval
  6. NOTICE by Jerry F. Barbato, Cronos Group Inc., Michael Gorenstein of Joinder in Lead Plaintiff's Motion for Final Approval of Class Action Settlement (Rein, … (ECF 99) Final approval
  7. DECLARATION re 96 MOTION for Settlement, Lead Plaintiff's Motion for Final Approval of Class Action Settlement and Plan of Allocation, 97 MOTION for Attorney… (ECF 98) Final approval
  8. ORDER ADOPTING REPORT AND RECOMMENDATIONS. On July 20, 2026, United States Magistrate Judge James M. Wicks issued a 93 Report & Recommendation (the R&R) reco… (ECF 95) Preliminary approval
  9. Letter re (ECF 94) Settlement filing
  10. REPORT AND RECOMMENDATION re (ECF 93) Final approval
  11. Preliminary approval granted Preliminary approval
  12. Letter regarding Lead Plaintiff's Motion for Preliminary Approval of Proposed Class Action Settlement by Keith D. Norman (Bissell-Linsk, Jake) (ECF 92) Preliminary approval
  13. Order (ECF 91) Preliminary approval
  14. Letter re proposed briefing schedule for Mr. Jeffcoat's planned objection to motion for preliminary approval of the proposed class action settlement (Dkt 78)… (ECF 81) Preliminary approval

Documents

Court filings come from the court's public docket through the free RECAP archive; official documents from the settlement administrator's own site. Other dates come from the official settlement site and the summary above. Nothing here is legal advice. Last checked Oct 23, 2026.

Where this information comes from