Aphria Class Action Lawsuit: Bernstein Liebhard LLP Announces That a Securities Class Action Lawsuit Has Been Filed Against Aphria Inc. – APHA
NEW YORK, Dec. 20, 2018 (GLOBE NEWSWIRE) -- Bernstein Liebhard LLP, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of those who purchased or acquired the securities of Aphria Inc. (“Aphria” or the “Company”) (NYSE: APHA) between July 17, 2018 and December 4, 2018, both dates inclusive (the “Class Period”). The lawsuit seeks to recover Aphria shareholders’ investment losses.
If you purchased Aphria securities, and/or would like to discuss your legal rights and options, please visit Aphria Shareholder Class Action Lawsuit or contact Daniel Sadeh toll free at (877) 779-1414 or firstname.lastname@example.org.
According to the lawsuit, throughout the Class Period Defendants made false and/or misleading statements and/or failed to disclose that: (1) the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders; and (3) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
On December 3, 2018, Quintessential Capital Management and Hindenburg Research published a report alleging, among other things, that the Company’s recent acquisitions in Latin America were part of a series of transactions designed to enrich Company insiders and that these acquisitions lacked established operations and/or licenses to operate in the cannabis industry.
On this news, Aphria’s stock fell $1.85 per share or approximately 23% to close at $6.05 per share on December 3, 2018, damaging investors.
If you wish to serve as lead plaintiff, you must move the Court no later than February 4, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. Your ability to share in any recovery doesn’t require that you serve as lead plaintiff. If you choose to take no action, you may remain an absent class member.
If you purchased Aphria securities, and/or would like to discuss your legal rights and options, please visit https://www.bernlieb.com/cases/aphria-inc-apha-lawsuit-class-action-fraud-stock-99/ or contact Daniel Sadeh toll free at (877) 779-1414 or email@example.com.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5 billion for its clients. In addition to representing individual investors, the Firm has been retained by some of the largest public and private pension funds in the country to monitor their assets and pursue litigation on their behalf. As a result of its success litigating hundreds of lawsuits and class actions, the Firm has been named to The National Law Journal’s “Plaintiffs’ Hot List” thirteen times and listed in The Legal 500 for ten consecutive years.
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