Cannabis News

Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Aurora Cannibas, Inc. ("Aurora" or the "Company") (NYSE:ACB) and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Aurora securities between February 13, 2020, and September 4, 2020, inclusive (the "Class Period"). Such investors are encouraged to join this case by visiting the firm's site: www.bgandg.comacb

This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

The Complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements and specifically failed to disclose that: (1) Aurora had significantly overpaid for previous acquisitions and experienced degradation in certain assets, including its production facilities and inventory; (2) the Company's purported "business transformation plan" and cost reset failed to mitigate the foregoing issues; (3) accordingly, it was foreseeable that the Company would record significant goodwill and asset impairment charges; and (4) as a result, the Company's public statements were materially false and misleading at all relevant times.

On September 8, 2020, Aurora issued a press release "announc[ing] an update on its business operations along with certain unaudited preliminary fiscal fourth-quarter 2020 results." Among other things, Aurora announced that the Company expected to record up to $1.8 billion in goodwill impairment charges in the fourth quarter of 2020. The Company also announced that "previously announced fixed asset impairment charges[ were] now expected to be up to $90 million, due to production facility rationalization, and a charge of approximately $140 million in the carrying value of certain inventory, predominantly trim, in order to align inventory on hand with near term expectations for demand." Following this news, Aurora's stock price fell $0.99 per share, or 11.63%, to close at $7.52 per share on September 8, 2020.

A class action lawsuit has already been filed. If you wish to review a copy of the Complaint you can visit the firm's site: www.bgandg.com/acb or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. If you suffered a loss in Aurora you have until December 1, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.

Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.

Contact:

Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com

SOURCE: Bronstein, Gewirtz & Grossman, LLC



View source version on accesswire.com:
https://www.accesswire.com/618822/ACB-Final-Deadline-Bronstein-Gewirtz-Grossman-LLC-Reminds-Aurora-Cannabis-Inc-Shareholders-With-Losses-Exceeding-110000-of-Class-Action-and-Lead-Plaintiff-Deadline-December-1-2020

News Provided by ACCESSWIRE IA via QuoteMedia

TERRASCEND TO HOST SECOND QUARTER 2022 EARNINGS CONFERENCE CALL

TerrAscend Corp. ("TerrAscend" or the "Company") (CSE: TER) (OTCQX: TRSSF), a leading North American cannabis operator, today announced that it will host a scheduled conference call to discuss the results for its second quarter ended June 30, 2022 on Thursday, August 11, 2022 at 5:00 p.m. Eastern Time . The Company will report its financial results for the second quarter the same day after market close.

CONFERENCE CALL DETAILS

The Canadian Securities Exchange ("CSE") has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.

About TerrAscend

TerrAscend is the leading North American cannabis operator with vertically integrated operations in Pennsylvania , New Jersey , Michigan and California , licensed cultivation and processing operations in Maryland and licensed production in Canada . TerrAscend operates The Apothecarium and Gage dispensary retail locations as well as scaled cultivation, processing, and manufacturing facilities in its core markets. TerrAscend's cultivation and manufacturing practices yield consistent, high-quality cannabis, providing industry-leading product selection to both the medical and legal adult-use markets. The Company owns several synergistic businesses and brands, including Gage Cannabis, The Apothecarium, Ilera Healthcare, Kind Tree, Prism, State Flower, Valhalla Confections, and Arise Bioscience Inc. For more information, visit www.terrascend.com

SOURCE TerrAscend

Cision View original content: http://www.newswire.ca/en/releases/archive/July2022/21/c0218.html

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less

American Green Launches Its Own Branded Premium Cannabis "Private Reserve" Flower in Arizona

MAC1 and Orange Apricot MAC Flower Available From ERBB

News Provided by NewMediaWire via QuoteMedia

Keep reading...Show less
cannabis plants

Cannabis Market Update: Q2 2022 in Review

Click here to read the previous cannabis market update.

Investments in the cannabis market have taken a beating across the board throughout 2022, and, as far as Q2 goes, losses have piled up for even the biggest players out there.

With companies of all valuation sizes and operation models feeling the pain of the financial realities, the cannabis investment storyline finds itself at a difficult moment with only a few points of long term optimism ahead.

Here the Investing News Network (INN) offers investors a closer look into the highlights of the Q2 period in 2022 for the cannabis investment universe.

Keep reading...Show less
Avicanna and Ei. Ventures Enter into an Agreement to Develop and Commercialize Adaptogen Nutraceuticals

Avicanna and Ei. Ventures Enter into an Agreement to Develop and Commercialize Adaptogen Nutraceuticals

Psilly™ branded functional fungi-based products will be developed by Avicanna utilizing Avicanna's proprietary delivery systems and scientific platform

Avicanna Inc. (" Avicanna " or the " Company" ) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing, and commercialization of plant-derived cannabinoid-based products is pleased to announce that the Company has entered into an Intellectual Property Licensing & Royalty Agreement (" IPLRA ") with Ei.Ventures, Inc. ("Ei.") to develop and commercialize functional fungi-based products.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less

Canopy Growth Announces Closing of Previously Announced Exchange Transaction

Retirement of Approximately $263 Million of Debt Strengthens Canopy Growth's Balance Sheet and Preserves Cash to Support Future Growth

Canopy Growth Corporation (" Canopy Growth " or the " Company ") (TSX: WEED) (NASDAQ: CGC) announced today that it has closed (the " Final Closing ") its previously announced exchange transaction (the " Transaction ") of certain 4.25% unsecured notes due 2023 (the " Notes ") in order to reduce its debt obligations by approximately $263 million . Constellation Brands, Inc. (" CBI "), through its wholly-owned subsidiary Greenstar Canada Investment Limited Partnership (" GCILP "), participated in the Transaction.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
US flag

Cannabis Weekly Round-Up: US Legalization Push Causes Stock Run

Cannabis market participants learned this past week about another potential legalization bill that is set to make an appearance in the US. Stocks rose in response to this long-shot attempt at reform.

In Canada, there’s an increasing challenge in retaining budtenders at cannabis dispensaries across the nation.

Keep reading to find out more cannabis highlights from the past five days.

Keep reading...Show less

Latest Press Releases

Related News

×