We are investigating Greenlane Holdings, Inc. (GNLN) (“Greenlane” or the “Company”) for potential violations of the federal securities laws.
On or around April 17, 2019, Greenlane conducted its initial public offering (“IPO”), selling approximately 6.45 million shares of common stock priced at $17.00 per share. Then, on June 18, 2019, the San Francisco Board of Supervisors unanimously approved the ban on the sale and distribution of e-cigarette products within the city, and also endorsed a ban on the manufacturing of e-cigarette products on city property. On this news, Greenlane’s stock price fell $2.27 per share, or 17.11%, to close at $11.00 per share on June 19, 2019.