According to the Complaint, Aphria Inc. purportedly produces and sells medical cannabis.

The Complaint alleges that during the Class Period, Defendants made statements that were materially false and/or
misleading and failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) that the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders; and (3) that, 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 March 27, 2019, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on May 28.