Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $100,000 In Aphria Inc. To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Aphria Inc. (“Aphria” or the “Company”) (NYSE:APHA) of the February 4, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you invested in Aphria stock or options between July 17, 2018 and December 4, 2018 and would like to discuss your legal rights, please fill out the form below. There is no cost or obligation to you.
You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to firstname.lastname@example.org.
The lawsuit has been filed in the U.S. District Court for the Southern District of New York on behalf of all those who purchased Aphria securities between July 17, 2018 and December 4, 2018 (the “Class Period”). The case, Jakobsen v. Aphria, Inc. et al., No. 18-cv-11376 was filed on December 5, 2018.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by failing to disclose to investors: (1) that the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; and (2) that the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders.
Specifically, 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
Following the publication of this report, Aphria’s share price fell from $6.05 per share on December 3, 2018 to a closing price of $4.51 on December 4, 2018—a $1.54 or a 25.44% drop.
Aphria Inc. (APHA)
* The submission of this form does not create an attorney-client relationship.
Filed on 12/03/2018
685 Third Avenue 26th Floor
10017 New York, New York
Phone (212) 983-9330
Fax (212) 983-9331
Richard W. Gonnello email@example.com Phone (212) 983-9330 Fax (212) 983-9331