Business Wire 6-Dec-2018 3:39 PM
Law Offices of Howard G. Smith announces that a class action lawsuit has been filed on behalf of investors that purchased 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.
Investors suffering losses on their Aphria investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to firstname.lastname@example.org.
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 volume.
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.
If you purchased shares of Aphria, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to email@example.com, or visit our website at www.howardsmithlaw.com.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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