Benzinga | Jan 19, 2021 07:34AM EST

Federal Court Dismisses Securities Class Action Lawsuit Against 22nd Century Group

22nd Century Group, Inc. (NYSE:XXII), a leading plant-based, biotechnology company that is focused on tobacco harm reduction, very low nicotine content tobacco, and hemp/cannabis research, announced today the dismissal with prejudice of the federal securities class action lawsuit captioned Noto. V. 22nd Century Group, Inc., 19-CV-1285 by a federal district court in the Western District of New York on January 14, 2021. The case was initially filed in the Eastern District of New York, where it was captioned Bull v. 22nd Century Group, Inc. 1:19-CV-00409. In denying the Plaintiffs' request for an opportunity to file another amended Complaint, the Court held that "further amendment would be futile."

"We are pleased with the Court's decision to dismiss this baseless lawsuit," said James A. Mish, chief executive officer of 22nd Century Group. "We have consistently maintained that these claims were without merit. We remain committed to building shareholder value through the advancement of our strategies in tobacco, hemp/cannabis, and plant science."