In re CV Sciences, Inc. Securities Litigation

Case No. 2:18-cv-01602-JAD-BNW (D. Nev.)


Please click here for important information for Nominees.

Welcome to the CV Sciences Securities Litigation Settlement Website.

The information contained on this web page is only a summary of information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action (the “Notice”). Because this website is just a summary, you should review the Notice for additional details.

The Parties Have Reached a Proposed Settlement, Subject to Court Approval

The parties have reached a proposed settlement of this action, captioned In re CV Sciences, Inc. Securities Litigation, Case No. 2:18-cv-01602-JAD-BNW (D. Nev.), for a cash payment of $712,500 (the “Settlement”). The Settlement, if approved by the Court, will resolve all claims in this Action.

Your Rights in the Proposed Settlement

If you are a member of the Class, your rights will be affected and you may be eligible for a payment from the proceeds of the Settlement, if it receives final Court approval. The Class certified by the Court for settlement purposes includes all Persons who purchased CV Sciences common stock in the United States or on the OTC between June 19, 2017 and August 20, 2018 at 1:21 p.m. EST, inclusive, and were allegedly damaged thereby, except those Persons that are excluded, as described below.

You are not a Class Member if you are: (a) Defendants; (b) the officers and directors of the Company at all relevant times; (c) members of any Defendant’s immediate families; (d) any entity in which Defendants have or had a controlling interest or which is related to or affiliated with any of the Defendants; (e) the legal representatives, heirs, agents, successors, or assigns of such excluded Persons; (f) Defendants’ liability insurance carriers and any affiliates or subsidiaries thereof; (g) those who purchased CV Sciences common stock on foreign exchanges, in accordance with the United States Supreme Court’s decision in Morrison v. Nat’l Australia Bank Ltd., 561 U.S. 247, 267 (2010) (“[I]t is in our view only transactions in securities listed on domestic exchanges, and domestic transactions in other securities, to which §10(b) applies.”); and (h) any Persons who exclude themselves by submitting a request for exclusion that is accepted by the Court.

Please read the Notice to fully understand your rights and options. Copies of the Notice and Claim Form can be found in the menu at the top of this page.

If you are a member of the Class, in order to be potentially eligible to receive a payment from the Settlement, you must submit a Claim Form postmarked or submitted electronically no later than July 15, 2022.

Payments to eligible claimants will be made only after the Settlement and a Plan of Allocation are approved by the Court and any appeals are resolved, and after the completion of all claims processing. Please be patient, as this process will take some time to complete.


Date Deadline
JULY 15, 2022 Claim Filing Deadline: Claim Forms must be postmarked or submitted electronically no later than JULY 15, 2022 to be eligible for a payment from the Settlement.
JULY 1, 2022 Exclusion Deadline: If you do not want a payment from this settlement, but you want to keep the right to sue or continue to sue any of the Defendants on your own about the same legal issues in this case, then you must take steps to get out of the Class. This is called excluding yourself or is sometimes referred to as opting out of the Class. Requests to be excluded from the proposed Settlement must be received no later than JULY 1, 2022, in accordance with the instructions in the Notice.
JULY 1, 2022 Objection Deadline: Any objections to the proposed Settlement, the proposed Plan of Allocation, and/or Lead Counsel’s request for an award of attorneys’ fees, expenses, and an award to Lead Plaintiff, must be received no later than JULY 1, 2022, in accordance with the instructions in the Notice.
JULY 22, 2022 at 10:00 a.m. The Final Approval Hearing: A hearing will be held on July 22, 2022 at 10:00 a.m. at the District of Nevada, Lloyd D. George Court House, 333 S. Las Vegas Blvd., Las Vegas, NV 89101, Courtroom 6D.

The Hearing will be held by the Court for the purpose of determining whether the proposed Settlement is fair, reasonable, and adequate; whether a Judgment as provided in the Stipulation of Settlement should be entered; and whether the proposed Plan of Allocation should be approved. If there are objections, the Court will consider them and will listen to people who have asked to speak at the hearing. The Court will also decide how much should be awarded to Lead Counsel for attorneys’ fees and expenses, and whether to approve an award of up to $12,000 to the Lead Plaintiff for his efforts in representing the Settlement Class.