CannTrust Holdings Plunges on Report That Senior Leadership Knew About Cannabis Violations
The situation at CannTrust Holdings (NYSE: CTST) is going from bad to worse.
The Globe and Mail reported Tuesday that senior CannTrust executives -- including Chairman Eric Paul and CEO Peter Aceto -- were aware that the company was growing cannabis in unlicensed rooms for months before regulators discovered it earlier in July.
Other CannTrust executives also appear to have had knowledge of the violations. Graham Lee, CannTrust's director of quality and compliance, reportedly sent an email in November informing Aceto and other members of CannTrust's leadership team about a Health Canada inspection that revealed multiple compliance issues -- but failed to notice the plants growing in unlicensed rooms. "We dodged some bullets," Lee allegedly wrote.
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