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Lawsuit filed for Investors in shares of Aurora Cannabis Inc. (NYSE: ACB)

12-05-2019 06:00 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

A lawsuit was filed on behalf of investors in Aurora Cannabis Inc. (NYSE: ACB) shares over alleged securities laws violations.

A lawsuit was filed on behalf of investors in Aurora Cannabis Inc. (NYSE: ACB) shares over alleged securities laws violations.

The Shareholders Foundation announced that an investor, who purchased shares of Aurora Cannabis Inc. (NYSE: ACB), filed a lawsuit over alleged violations of Federal Securities Laws by Aurora Cannabis Inc.

Investors who purchased shares of Aurora Cannabis Inc. (NYSE: ACB), have certain options and for certain investors are short and strict deadlines running. Deadline: January 21, 2020. NYSE: ACB investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

Canada based Aurora Cannabis Inc. produces and distributes medical cannabis products. On November 14, 2019, Aurora Cannabis Inc. announced its First Quarter Results and Corporate Action Plan. The results included a 24% quarterly sequential drop in revenue including a 33% drop in consumer cannabis revenue. The results also included a greater EBITDA loss than the previous quarter at CA$39.7M EBITDA.

Aurora Cannabis Inc. also announced a CA$190M reduction is capital expenditures, the halting of construction of the Aurora Nordic 2 facility in Demark, and its deferring final construction of its Aurora Sun facility. Finally, Aurora Cannabis Inc. announced that it would open an early conversion window for holders of CA$230M of convertible debentures.

Shares of Aurora Cannabis Inc. (NYSE: ACB) declined from $10.32 per share in March 2019 to as low as $2.14 per share on November 19, 2019.

The plaintiff claims that between September 11, 2019 and November 14, 2019, the defendants made false and/or misleading statements and/or failed to disclose that Aurora’s revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019, that the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and that due to the foregoing, defendants’ statements about Aurora’s receivables, business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Those who purchased shares of Aurora Cannabis Inc. (NYSE: ACB) 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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