Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a national securities and consumer rights litigation firm, reminds investors that securities class action lawsuits have been filed against Aphria Inc. (“Aphria” or the “Company”) (NYSE:APHA) and certain of the Company’s officers and directors (collectively, with Aphria, “Defendants”) regarding the violation of federal securities laws. If you purchased Aphria securities between July 17, 2018 and December 4, 2018, you are encouraged to contact a Scott+Scott attorney at (844) 818-6982 for more information. Investors have until February 4, 2019 to move for lead plaintiff.
The lawsuits allege, among other things, that Defendants made false and/or misleading statements and/or failed to disclose that: (i) certain of the Company’s recent Latin American acquisitions were worth far less than represented; (ii) the Company was engaged in undisclosed self-dealing; (iii) the quality of Company’s cannabis was inferior to competitors; and (iv) as a result of the foregoing, certain of Aphria’s public statements were materially false and misleading at all relevant times.
On December 3, 2018, Hindenburg Research released a report, titled “Aphria: A Shell Game with a Cannabis Business on the Side.” According to the report, “Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets.” In addition, the report found that Aphria’s recent Latin American acquisitions are suspect, it engages in undisclosed self-dealing, and its product is inferior.
On this news, the price of Aphria stock fell $3.39, or over 42%, over the next two trading days.
On January 11, 2019, Aphria announced that its Chief Executive Officer and co-founder were stepping down from their executive roles at the Company.
What You Can Do
If you purchased Aphria stock between July 17, 2018 and December 4, 2018, or you have questions about your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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SOURCE: Scott+Scott Attorneys at Law LLP
Joe PettigrewScott+Scott Attorneys at Law LLP(844) email@example.com