Lawsuit filed for Investors in shares of Tilray, Inc. (NASDAQ: TLRY)

An investor, who purchased shares of Tilray, Inc. (NASDAQ: TLRY), filed a lawsuit over alleged violations of Federal Securities Laws by Tilray, Inc.

Investors who purchased shares of Tilray, Inc. (NASDAQ: TLRY) have certain options and for certain investors are short and strict deadlines running. Deadline: May 5, 2020. NASDAQ: TLRY investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

On January 15, 2019, Tilray, Inc. announced its entry into a marketing and revenue sharing agreement with Authentic Brands Group ("ABG"), "an owner of a portfolio of global lifestyle and entertainment brands" (the "ABG Agreement").

On March 2, 2020, Tilray, Inc. announced the Company's financial results for the fourth quarter and full year 2019. Among other results, Tilray, Inc. reported a net loss for the year of $321.2 million, or $3.20 per share, compared to $67.7 million, or $0.82 per share, for 2018. In addition, Tilray disclosed that "the Company recorded non-cash charges of $112.1 million related to impairment of the Authentic Brands Group LLC ('ABG') agreement as well as $68.6 million in inventory reserves."

Shares of Tilray, Inc. (NASDAQ: TLRY) declined from $21.09 per share on February 20, 2020 to as low as $7.67 per share on March 9, 2020.

The plaintiff claims that between January 15, 2019 and March 2, 2020, the defendants made false and/or misleading statements and/or failed to disclose that the purported advantages of the ABG Agreement were significantly overstated, that the underperformance of the ABG Agreement would foreseeably have a significant impact on the Company's financial results, and that as a result, the Company's public statements were materially false and misleading at all relevant times.

Those who purchased shares of Tilray, Inc. (NASDAQ: TLRY) 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.

This release was published on openPR.