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SAN FRANCISCO, Jan. 28, 2019 (GLOBE NEWSWIRE) -- Hagens Berman Sobol Shapiro LLP reminds investors in Aphria, Inc. (NYSE: APHA) of the February 4, 2019 Lead Plaintiff deadline in the pending securities class action. If you purchased or otherwise acquired APHA shares between July 17, 2018 and December 4, 2018 and suffered losses contact Hagens Berman Sobol Shapiro LLP. For more information visit:
or contact Reed Kathrein, who is leading the firm’s investigation, by calling 510-725-3000 or emailing
On November 2, 2018, Aphria began trading on the NYSE at $11.75 per share. About one month later, on December 3, 2018, several media sources began reporting that Aphria has been diverting shareholder assets to insiders through an elaborate “shell game” scheme using international shell companies to stage unusual acquisitions by foreign entities, essentially leaving Aphria’s shareholders holding the bag with shares backed by worthless assets.
There have also been reports that Aphria generates negative cash, and that its cannabis facilities were allegedly infested with bugs, stricken with mold, and have failed audit inspections.
This news drove the price of Aphria shares down 23.42% to close at $6.05 on December 3, 2018, a 51% drop YTD.
Then, on January 11, 2019, the Company announced CEO Vic Neufeld and Co-founder Cole Cacciavillani would “transition out of their executive roles over the coming months.”
“Right now, our focus is on investors’ losses and whether the Company made statements about its business that, if untrue or incomplete, could have misled Aphria investors,” said Hagens Berman partner Reed Kathrein.
Whistleblowers: Persons with non-public information regarding Aphria should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email APHA@hbsslaw.com.
About Hagens Berman
Hagens Berman is a national investor-rights law firm headquartered in Seattle, Washington with 80+ attorneys in 10 offices across the country. The Firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes can be found at www.hbsslaw.com. For the latest news visit our newsroom or follow us on Twitter at @classactionlaw.
Reed Kathrein, 510-725-3000