Globe Newswire 6-Dec-2018 2:41 PM
NEW YORK, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aphria, Inc. ("Aphria" or the "Company") (NYSE:APHA) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aphria securities between July 17, 2018 and December 4, 2018, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: bgandg.com/apha.
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that throughout the Class Period, Defendants made materially 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.
On December 3, 2018, Hindenburg Research published an article, "Aphria: A Shell Game with a Cannabis Business on the Side." The report alleges that "Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets." Following this news, Aphria stock dropped $1.85 per share, or about 23.4%, to close at $6.05 on December 3, 2018.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: bgandg.com/apha or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Aphria you have until February 4, 2019 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | firstname.lastname@example.org
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