Labaton Keller Sucharow LLP Announces a Proposed Settlement in the Cronos U.S. Securities Settlement

NEW YORK, Sept. 23, 2026 /PRNewswire/ --

UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF NEW YORK

SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSES

To: all persons and entities, irrespective of country of residence, who or which purchased or otherwise acquired the publicly traded common stock of Cronos Group Inc. on the NASDAQ, or any other public U.S. market for trading stocks, during the period from May 9, 2019 through March 30, 2020, both dates inclusive (the "Class Period"), and were allegedly damaged thereby (the "Settlement Class").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure and an Order of the United States District Court for the Eastern District of New York, that Court-appointed Lead Plaintiff, on behalf of himself and all members of the proposed Settlement Class; and Cronos Group Inc., Michael Gorenstein, and Jerry F. Barbato (collectively, "Defendants"), have reached a proposed settlement of the claims in the above-captioned class action (the "Action" or "U.S. Action"), and related claims, in the amount of $10,000,000 (USD) (the "Settlement"). If approved, the Settlement will release claims Settlement Class Members alleged in the U.S. Action and the case known as Harpreet Badesha v. Cronos Group Inc. et al., CV-20-00641990-00CP, pending in Ontario Sup. Ct. Justice ("Ontario Action") with respect to trading on the NASDAQ (or any other public U.S. market for trading stocks). The Settlement will extinguish any entitlement of Settlement Class Members to a future recovery in the U.S. Action and the Ontario Action based on those claims, in exchange for the Settlement Amount in the U.S. Action. The Ontario Action asserts, among other things, claims under the Ontario securities laws based on similar allegations to those in the Action.

A hearing will be held, either in person or remotely in the Court's discretion, on November 19, 2026 at 11:00 a.m. (ET) at the United States Courthouse, United States District Court, Eastern District of New York, 225 Cadman Plaza East, Brooklyn, New York 11201 (the "Settlement Hearing") to determine whether the Court should: (i) approve the proposed Settlement as fair, reasonable, and adequate; (ii) dismiss the Action with prejudice as provided in the Stipulation and Agreement of Settlement, dated December 2, 2025; (iii) approve the proposed Plan of Allocation for distribution of the proceeds of the Settlement (the "Net Settlement Fund") to Settlement Class Members; and (iv) approve Lead Counsel's Fee and Expense Application. The Court may change the date of the Settlement Hearing, or hold it remotely, without providing another notice. You do NOT need to attend the Settlement Hearing in order to receive a distribution from the Net Settlement Fund.

IF YOU ARE A MEMBER OF THE SETTLEMENT CLASS, YOUR RIGHTS WILL BE AFFECTED BY THE PROPOSED SETTLEMENT AND YOU MAY BE ENTITLED TO A MONETARY PAYMENT. If you have not yet received a Postcard Notice, you may obtain copies of the Postcard Notice, long-form Notice, and Claim Form by visiting www.CronosUSSecuritiesSettlement.com, or by contacting the Claims Administrator at:

Cronos U.S. Securities Settlement
c/o A.B. Data, Ltd.
P.O. Box 173088
Milwaukee, WI 53217
(877) 226-4986
www.CronosUSSecuritiesSettlement.com  
[email protected] 

Inquiries, other than requests for copies of notices or about the status of a claim, may also be made to Lead Counsel:

LABATON KELLER SUCHAROW LLP
Jake Bissell-Linsk, Esq.
140 Broadway
New York, NY 10005
www.labaton.com 
[email protected]
(888) 219-6877

For questions about the Ontario Action, visit www.ontariocronosclassaction.com or you can contact the lawyers representing the plaintiff in the Ontario Action by emailing [email protected] or calling (647) 969-4472.

If you are a Settlement Class Member, to be eligible to share in the distribution of the Net Settlement Fund, you must submit a Claim Form postmarked or submitted online no later than November 9, 2026. If you are a Settlement Class Member and do not timely submit a valid Claim Form, you will not be eligible to share in the distribution of the Net Settlement Fund, but you will nevertheless be bound by all judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable.

If you are a Settlement Class Member and wish to exclude yourself from the Settlement Class, you must submit a written request for exclusion in accordance with the instructions in the Notice available at www.CronosUSSecuritiesSettlement.com, and such request must be received no later than October 29, 2026. If you properly exclude yourself from the Settlement Class, you will not be bound by any judgments or orders entered by the Court relating to the Settlement, whether favorable or unfavorable, and you will not be eligible to share in the distribution of the Net Settlement Fund.

Any objections to the proposed Settlement, Lead Counsel's Fee and Expense Application, and/or the proposed Plan of Allocation must be filed with the Court, either by mail or in person, and be mailed to counsel for the Parties in accordance with the instructions in the Notice available at www.CronosUSSecuritiesSettlement.com, such that they are received no later than October 29, 2026.

PLEASE DO NOT CONTACT THE COURT REGARDING THIS NOTICE

SOURCE Labaton Keller Sucharow LLP