The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Aurora Cannabis Inc. (NYSE: ACB) who purchased shares between February 13, 2020 and September 4, 2020. The action, which was filed in the United States District Court for the District of New Jersey, alleges that the Company violated federal securities laws.
In particular, the Aurora Cannabis lawsuit alleges that (i) Aurora had significantly overpaid for previous acquisitions and experienced degradation in certain assets, including its production facilities and inventory; (ii) the Company’s purported “business transformation plan” and cost reset failed to mitigate the foregoing issues; (iii) accordingly, it was foreseeable that the Company would record significant goodwill and asset impairment charges; and (iv) as a result, the Company’s public statements were materially false and misleading at all relevant times.
Shareholders have until December 1, 2020 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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