Case Background:
This is a federal fraud securities class action lawsuit on behalf of all persons or entities who purchased or acquired Aphria Inc. (“Aphria” or the “Company”) securities between July 17, 2018 and April 12, 2019, both dates inclusive (the “Class Period”).
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 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.
Current Status of Case:
On August 30, 2022, the Court certified the Class consisting of all investors who purchased Aphria securities between July 17, 2018, and April 12, 2019. This action is in the discovery phase and is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.