AP NEWS
Press release content from Business Wire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Business Wire
Press release content from Business Wire. The AP news staff was not involved in its creation.

Glancy Prongay & Murray LLP Announces the Filing of a Securities Class Action on Behalf of Aurora Cannabis Inc. Investors

November 23, 2019 GMT

LOS ANGELES--(BUSINESS WIRE)--Nov 22, 2019--

Glancy Prongay & Murray LLP (“GPM”), a national investors rights law firm, announces that a class action lawsuit has been filed on behalf of investors that acquired Aurora Cannabis Inc. (“Aurora” or the “Company”) (NYSE: ACB ) securities between September 11, 2019 and November 14, 2019, inclusive (the “Class Period”). Aurora investors have until January 21, 2020 to file a lead plaintiff motion.

If you are a shareholder who suffered a loss, click here to participate.

If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com.

On November 14, 2019, the Company released an earnings report in which it reported a 24% sequential decline in revenue of C$75.3 versus C$98.9 in the previous quarter. In addition to this decline in revenue, the Company also announced that plans to finalize construction of additional grow facilities in both Denmark and Canada have been delayed.

On this news, the Company’s share price fell $0.56, or nearly 17%, to close at $2.73 per share on November 15, 2019, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Aurora’s revenue would decline in its first quarter of fiscal 2020 ended September 30, 2019; (2) that the Company would halt construction on its Aurora Nordic 2 and Aurora Sun facilities; and (3) that as a result, Defendants’ statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

Follow us for updates on Twitter: twitter.com/GPM_LLP.

If you purchased Aurora securities during the Class Period, you may move the Court no later than January 21, 2020 to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class. If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

View source version on businesswire.com:https://www.businesswire.com/news/home/20191122005550/en/

CONTACT: Glancy Prongay and Murray LLP, Los Angeles

Lesley Portnoy, 310-201-9150 or 888-773-9224

www.glancylaw.com

shareholders@glancylaw.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES

SOURCE: Glancy Prongay & Murray LLP

Copyright Business Wire 2019.

PUB: 11/22/2019 07:30 PM/DISC: 11/22/2019 07:30 PM

http://www.businesswire.com/news/home/20191122005550/en