A lawsuit was filed on behalf of investors in Aphria Inc. (NYSE: APHA) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 12/18/2018 -- An investor, who purchased shares of Aphria Inc. (NYSE: APHA), filed a lawsuit over alleged violations of Federal Securities Laws by Aphria Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Aphria Inc. (NYSE: APHA) have certain options and for certain investors are short and strict deadlines running. Deadline: February 4, 2019. NYSE: APHA investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
The plaintiff claims that between November 2, 2018 and November 30, 2018, the Aphria Inc and its senior executives issued materially false and/or misleading statements regarding the Company's acquisition of cannabis-related assets in Latin America and the Caribbean (the "Acquisition"), and that as a result, Aphria common stock traded at artificially inflated prices between November 2, 2018 and November 30, 2018.
Canada based Aphria Inc. produces and sells medical cannabis in Canada and internationally. Aphria Inc. reported that its Total Revenue rose from $20.43 million for the 12 months period that ended on May 31, 2017 to $36.91 million for the 12 months period that ended on May 31, 2018 and that its Net Income increased from $4.19 million to $29.44 million over those respective time periods.
Aphria Inc. went public in November 2018 and shares of Aphria Inc. (NYSE: APHA) reached to $13.45 per share on November 7, 2018.
On December 3, 2018, a report was published titled, "Aphria: A Shell Game with a Cannabis Business on the Side." According to the report "Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets." On December 3 and December 4, 2018, Aphria issued statements denying the findings contained in the Report.
The plaintiff claims that Aphria's response failed to substantively address many of the issues of malfeasance and self-dealing that the Report had raised.
Those who purchased shares of Aphria Inc. (NYSE: APHA) have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
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About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
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