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Lawsuit filed for Investors in shares of HEXO Corp. (NYSE: HEXO)

12-04-2019 09:09 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in HEXO Corp. (NYSE: HEXO) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in HEXO Corp. (NYSE: HEXO) shares over alleged securities laws violations.

An investor, who purchased shares of HEXO Corp. (NYSE: HEXO), filed a lawsuit over alleged violations of Federal Securities Laws by HEXO Corp. in connection with certain allegedly false and misleading statements.

Investors who purchased shares of HEXO Corp. (NYSE: HEXO) have certain options and for certain investors are short and strict deadlines running. Deadline: January 27, 2020. (NYSE: HEXO investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based HEXO Corp., through its subsidiary, HEXO Operations Inc., produces, markets, and sells cannabis in Canada. On October 4, 2019, HEXO Corp. announced the immediate resignation of its Chief Financial Officer (“CFO”) Michael Monahan, after only four months as the Company’s CFO.

The plaintiff claims that between January 25, 2019 and November 15, 2019, the Defendants failed to disclose to investors that HEXO’s reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value, that HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors, that HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada, and 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.

Those who purchased shares of HEXO Corp. (NYSE: HEXO) have certain options and should contact the Shareholders Foundation.

Media Contact:
Michael Daniels
Shareholders Foundation, Inc.
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
Tel: +1-(858)-779-1554
E-Mail: mail@shareholdersfoundation.com

About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, and an investor advocacy group, 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, investigations, and/or settlements are not filed/initiated/reached and/or are not 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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