An investigation on behalf of investors of Greenlane Holdings, Inc. (NASDAQ: GNLN) shares over potential securities laws violations by Greenlane Holdings, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Greenlane Holdings, Inc. (NASDAQ: GNLN) concerning whether a series of statements by Greenlane Holdings, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Boca Raton, FL based Greenlane Holdings, Inc. distribute consumption accessories and vaporization products to wholesale and retail customers in the United States and Canada. Greenlane Holdings, Inc. (NASDAQ: GNLN) reported that its annual Total Revenue rose from $88.25 million in 2017 to $178.93 million in 2018 and that its Net Income of $2.29 million in 2017 turned to Net Loss of $5.88 million in 2018. On April 23, 2019, Greenlane held its initial public offering (IPO), offering shares at $17.00.

Shares of Greenlane Holdings, Inc. (NASDAQ: GNLN) declined to as low as $6.81 per share on August 14, 2019.