LOS ANGELES–(BUSINESS WIRE)–$APHA #CLASSACTION—Glancy
Prongay & Murray LLP (“GPM”), a global investors rights law
firm, announces that a class action lawsuit has been filed on behalf of
investors that purchased or otherwise acquired Aphria Inc. (“Aphria” or
the “Company”) (NYSE: APHA)
securities between July 17, 2018 and December 4, 2018, inclusive
(the “Class Period”). Aphria investors have until February 4,
2019 to file a lead plaintiff motion.
If you are a shareholder who suffered a loss, click here to
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.
On this news, Aphria’s share price fell $1.85 per share, or over 23%, to
close at $6.05 per share on December 3, 2018, on unusually heavy trading
The complaint filed in this class action alleges that the Company 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.
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If you purchased shares of Aphria during the Class Period you may move
the Court no later than February 4, 2019 to ask the Court to
appoint you as lead plaintiff. To be a member of the Class you need not
take any action at this time; you may retain counsel of your choice or
take no action and remain an absent member of the Class. If you wish
to learn more about this action, or if you have any questions concerning
this announcement or your rights or interests with respect to these
matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century
Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150,
Toll-Free at 888-773-9224, by email to firstname.lastname@example.org,
or visit our website at www.glancylaw.com.
If you inquire by email please include your mailing address, telephone
number and number of shares purchased.
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jurisdictions under the applicable law and ethical rules.