Business Wire 11-Jan-2019 5:14 PM
Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, announces new information regarding its securities class action lawsuit against Aphria, Inc. ("Aphria" or the "Company") and certain of the Company's officers and directors for violating federal securities laws (the "Action").
Earlier today Aphria issued a statement announcing that Chief Executive Officer, Vic Neufeld, a defendant in the Action, and co-founder, Cole Cacciavillani, are stepping down from their executive roles at the Company. This news follows allegations that certain of the Company's assets were acquired at inflated prices from insiders and that the quality of the Company's cannabis was inferior to its competitors—allegations which the Action directly addresses.
The Action, currently pending in the U.S. District Court for the Southern District of New York, asserts claims related to these allegations under §§10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. §§78j(b) and 78t(a), and SEC Rule 10b-5 promulgated thereunder, 17 C.F.R. §240.10b-5.
If you purchased Aphria stock between July 17, 2018 and December 4, 2018, or you have questions about your legal rights, please contact attorney Joe Pettigrew at (844) 818-6982, or at firstname.lastname@example.org. Aphria investors have until February 4, 2019 to move for lead plaintiff.
About Scott+Scott Attorneys at Law LLP
Scott+Scott has significant experience in prosecuting major securities, antitrust, and employee retirement plan actions throughout the United States. The firm represents pension funds, foundations, individuals, and other entities worldwide with offices in New York, London, Connecticut, California, and Ohio.
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