June 20, 2016 - A stipulation of dismissal was reached by the parties. The case was dismissed.

January 21, 2016 - An investor in American Depositary Receipts (ADRs) of GW Pharmaceuticals PLC (NASDAQ: GWPH) filed a lawsuit in the U.S. District Court for the Southern District of New York over alleged violations of Federal Securities Laws by GW Pharmaceuticals PLC in connection with certain allegedly false and misleading statements made between December 4, 2014 and January 8, 2016.

According to the complaint the plaintiff alleges on behalf of purchasers of GW Pharmaceuticals PLC (ADR) (NASDAQ: GWPH) common shares between December 4, 2014 and January 8, 2016, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between December 4, 2014 and January 8, 2016 defendants made false and/or misleading statements and/or failed to disclose that GW Pharmaceuticals PLC lacked effective internal financial controls, that GW Pharmaceuticals PLC lacked effective controls over completeness and valuation of clinical trial accruals, and that as a result of the foregoing, defendants’ statements about GW Pharmaceuticals PLC’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis at all relevant times.

GW Pharmaceuticals PLC (ADR) reported that its Total Revenue declined from GBP 30.05 million for the 12 months period that ended on September 30, 2014 to GBP 28.54 million for the 12 months period that ended on September 30, 2015 and that its Net Loss for those respective time periods increased from GBP 14.66 million to GBP 44.56 million.

On January 10, 2016, it was reported that GW Pharmaceuticals PLC had disclosed in its annual report for the fiscal year ended September 30, 2015 (the “FY 2015 20-F”), filed with the Securities and Exchange Commission (“SEC”) the previous month, that its internal financial controls were not effective as of September 30, 2015, and further disclosed that management had determined that it lacked effective controls over the completeness and valuation of clinical trial accruals. Specifically, the annual report for the fiscal year ended September 30, 2015 reported that management lacked sufficiently precise controls: (1) to evaluate the completeness and accuracy of the calculation of clinical trial accruals due to the incorrect allocation of expenditure to clinical studies; or (2) to ensure completeness of clinical trial accruals in connection with contractual progress payment liabilities.

Shares of GW Pharmaceuticals PLC (ADR) (NASDAQ: GWPH) declined from as high as $129.69 per share in June 2015 to as low as $52.92 per share on January 11, 2016.

On January 21, 2016, NASDAQ: GWPH shares closed at $56.32 per share.