Faruqi & Faruqi, LLP Encourages Investors Who Suffered Losses Exceeding $50,000 In Aurora Cannabis To Contact The Firm
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Aurora Cannabis (“Aurora Cannabis” or the “Company”) (NYSE:ACB) of the January 21, 2020 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 Aurora Cannabis stock or options between September 11, 2019 and November 14, 2019 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 District of New Jersey on behalf of all those who purchased Aurora Cannabis securities between September 11, 2019 and November 14, 2019 (the “Class Period”). The case, Wilson v. Aurora Cannabis Inc. et al., No. 19-cv-20588 was filed on November 21, 2019, and has been assigned to Judge John Michael Vazquez.
The lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) as opposed to the Company’s representations, Aurora’s revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On November 14, 2019, Aurora announced its first quarter of fiscal 2020 ended September 30, 2019, First Quarter 2020 Results (“Q1 2020 Results”) & Corporate Action Plan. 35. As opposed to statements made and released by Defendants during and after its first fiscal quarter 2020, Q1 2020 Results showed a CA$23.8 million, or a 25%, sequential decline of sales, well below analyst estimates. 36. In particular, Aurora’s consumer cannabis revenue fell by 33% sequentially.
On this news, the Company's stock price fell from $3.29 per share on November 14, 2019 to $2.73 per share on November 15, 2019: a $0.56 or 17.02% drop.
Aurora Cannabis Inc. (ACB)
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Filed on 11/22/2019
Lead Plaintiff Deadline 01/21/2020
4 days remaining
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