A securities fraud class action alleging wrongdoing committed by certain of 22^nd Century Group, Inc’ Officers and Directors has survived a motion to dismiss the complaint.

The underlying case involves an alleged scheme to use undisclosed paid stock promotions to artificially inflate the price of 22nd Century’s common stock. The artificially inflated stock was then used by Defendants to obtain a needed cash infusion through a large stock offering. That offering netted over $50 million from unsuspecting investors. When the truth about the scheme was revealed, 22nd Century’s stock tanked, causing significant damages to investors.

22^nd Century shareholders who have continuously held company stock since on or before February 18, 2016, can seek corporate reforms, the return of funds spent defending litigation back to the company, and a court approved incentive award, if appropriate, at no cost to them whatsoever.

If you would like to learn more about this matter at no cost to you, please contact us at jgrabar@grabarlaw.com or call 267-507-6085.