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Investigation announced for Long Term Investors in shares of HEXO Corp. (NYSE: HEXO)

03-30-2020 07:36 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Shareholders Foundation

An investigation on behalf of current long term investors in HEXO Corp. (NYSE: HEXO) shares.

An investigation on behalf of current long term investors in HEXO Corp. (NYSE: HEXO) shares.

An investigation was announced for investors in shares of HEXO Corp. (NYSE: HEXO) concerning potential breaches of fiduciary duties by certain directors of HEXO Corp.

Investors who are current long term investors in HEXO Corp. (NYSE: HEXO) shares, have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm for current long term investors in NYSE: HEXO stocks follows a lawsuit filed against HEXO Corp. over alleged securities laws violations. The investigation on behalf of current long term investors in NYSE: HEXO stocks, concerns whether certain HEXO Corp. directors are liable in connection with the allegations made in that lawsuit.

According to that complaint filed in the U.S. District Court for the Southern District of New York the plaintiff alleges that, 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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