Silver Law Group Investigates Level Brands, Inc. (LEVB) For Potential Securities Fraud

Silver Law Group is investigating Level Brands, Inc. (LEVB), a publicly-traded company that produces CBD (cannabidiol) products under the cbdMD brand, on behalf of investors concerning whether the company and its officers or directors may have violated federal securities laws, as well as violations by the selling stockbrokers.

If you are an investor and have suffered a loss with this company, you may be able to recover some of your losses.

On April 18, 2019, Level Brands announced that it was restating its financial statements for the last quarter of 2018 because of an error in their “previously issued unaudited condensed consolidated financial statements for the three months ended December 31, 2018.”

Level Brands said “it failed to give effect to the phase in of FASB ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities.”

The company said that the restatement would have an impact on the earnings per share, unrealized gain or loss, and equity recorded in its previously filed statement.

Marijuana-related companies have raised significant capital over the last few years. Wall Street and investment bankers are attracted to this sector, which offers multiple trading and investment banking opportunities.

In 2018, Level Brands used ThinkEquity, a division of Fordham Financial Management, as sole book-running manager for a public offering that grossed the company $6,899,998. If you were a Level Brands, Inc. shareholder and want to learn more about your legal rights, contact the Silver Law Group.

Silver Law Group represents the interests of investors who have been the victims of investment fraud. Our attorneys represent investors in class actions against issuers in state or federal court and investors in securities arbitration claims against Wall Street firms for stockbroker misconduct. Scott Silver is the chairman of the Securities and Financial Fraud Group of the American Association of Justice and represents investors nationwide in securities investment fraud cases. Please contact Scott Silver of the Silver Law Group for a free consultation at ssilver@silverlaw.com or toll free at (800) 975-4345.