Aurora Cannabis Inc.
Lead Plaintiff Deadline: 12/01/2020
SUMMARY OF CASE:
A securities class action has been filed against Aurora Cannabis Inc. (ACB) on behalf of all purchasers of Aurora Cannabis between February 13, 2020 through September 4, 2020. This case has been filed in the USDC – NJ.
The Complaint alleges that Aurora misled investors as to the value of prior acquisitions, that the Company had experienced degradation in certain assets, and that as a result, it was foreseeable that Aurora would record significant goodwill and asset impairment charges. According to the lawsuit, this news was so shocking because Aurora had previously lauded a “business transformation plan” that would purportedly “better align the business financially with the current realities of the cannabis market.”