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Robert Cohen Discusses Marijuana Financial Restatements with MJBiz Daily


Robert Cohen has been quoted in the article “Marijuana Financial Restatements Show Industry Still Maturing, Insiders Say,” published by MJBiz Daily.

Writes Kate Robertson: “The marijuana industry has an accounting problem, with a number of companies correcting errors in financial statements in recent years through restatements. Restating financial results is a rare occurrence for most public companies … But a disproportionate number of them have come from the cannabis industry over the past few years, making it harder for investors to gauge the financial health of a company. Restatements also can lead to potentially costly class action lawsuits.”

Says Robert: “The restating of a public company’s financial statements is like ringing the alarm bell for class action lawyers. It doesn’t necessarily mean that a class action will ensue or be successful, but it typically means that there is smoke to be investigated, and often when there is smoke, there is fire.”

Read the full story here.