The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aphria Inc. (NYSE: APHA) who purchased shares between July 17, 2018 and December 4, 2018. The action, which was filed in the United States District Court for the Southern District of New York, alleges that the Company violated federal securities laws.
In particular, the Aphria lawsuit alleges that (1) the Latin American assets acquired by the Company lacked adequate licenses to operate and were overvalued; (2) the acquisition of the Latin American assets would enrich the Company’s CEO and other insiders at the expense of shareholders; and (3) 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.
Shareholders have until February 5, 2019 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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