On or around 09/27/2019 (Date of last review)
Filing Date: December 05, 2018
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.
Company & Securities Information
Defendant: Aphria Inc.
Industry: Biotechnology & Drugs
Ticker Symbol: APHA
Company Market: New York SE
Market Status: Public (Listed)
About the Company & Securities Data
"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.
In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.