<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="If you suffered a loss as a result of Aurora' misconduct, click here.” data-reactid=”19″>If you suffered a loss as a result of Aurora’ misconduct, click here.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Aurora Cannabis Inc. (ACB) Accused of Misleading Shareholders ” data-reactid=”20″>Aurora Cannabis Inc. (ACB) Accused of Misleading Shareholders
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="According to the complaint, throughout the relevant period, due to Aurora's exaggerated representation of its market demand, the Company was overproducing consumer use cannabis products, leading to production inefficiencies. As a result, on November 14, 2019, Aurora released dismal fiscal first quarter 2020 financial results that revealed a revenue decline of 24% quarter-over-quarter with net income of $10.4 million, compared to net income of $104.2 million for the same quarter last year. Then, on November 29, 2019, Marijuana Business Daily reported that Germany had stopped the sale of Aurora’s medical products while German authorities investigated Aurora’s proprietary process. Following these issues, on December 21, 2019, Aurora announced the abrupt departure of its Chief Corporate Officer also described as Aurora’s "public face." Finally, as a consequence of its poor financial condition, on January 6, 2020, Aurora announced that it would be selling one of its greenhouses to raise cash, marking the third tangible asset Aurora had decided to offload. Following all of these disclosures, Aurora shares traded at around just $1.83, representing a decline of almost 45% from its closing price of $3.29 on November 14, 2019.” data-reactid=”21″>According to the complaint, throughout the relevant period, due to Aurora’s exaggerated representation of its market demand, the Company was overproducing consumer use cannabis products, leading to production inefficiencies. As a result, on November 14, 2019, Aurora released dismal fiscal first quarter 2020 financial results that revealed a revenue decline of 24% quarter-over-quarter with net income of $10.4 million, compared to net income of $104.2 million for the same quarter last year. Then, on November 29, 2019, Marijuana Business Daily reported that Germany had stopped the sale of Aurora’s medical products while German authorities investigated Aurora’s proprietary process. Following these issues, on December 21, 2019, Aurora announced the abrupt departure of its Chief Corporate Officer also described as Aurora’s “public face.” Finally, as a consequence of its poor financial condition, on January 6, 2020, Aurora announced that it would be selling one of its greenhouses to raise cash, marking the third tangible asset Aurora had decided to offload. Following all of these disclosures, Aurora shares traded at around just $1.83, representing a decline of almost 45% from its closing price of $3.29 on November 14, 2019.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Aurora Cannabis Inc. (ACB) Shareholders Have Legal Options” data-reactid=”22″>Aurora Cannabis Inc. (ACB) Shareholders Have Legal Options
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Contact us to learn more:
Leo Kandinov
(800) 350-6003
[email protected]
Shareholder Information Form” data-reactid=”23″>Contact us to learn more:
Leo Kandinov
(800) 350-6003
[email protected]
Shareholder Information Form
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.” data-reactid=”24″>Robbins LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Click here to receive free alerts from Stock Watch when companies engage in wrongdoing.
Attorney Advertising. Past results do not guarantee a similar outcome.
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="View source version on businesswire.com: https://www.businesswire.com/news/home/20200114005785/en/” data-reactid=”26″>View source version on businesswire.com: https://www.businesswire.com/news/home/20200114005785/en/
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Contacts” data-reactid=”27″>Contacts
<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Leo Kandinov
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com” data-reactid=”28″>Leo Kandinov
Robbins LLP
5040 Shoreham Place
San Diego, CA 92122
[email protected]
(619) 525-3990 or Toll Free (800) 350-6003
www.robbinsllp.com
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