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Robbins Arroyo LLP: Aphria, Inc. (APHA) Misled Shareholders According to Class Action
[December 11, 2018]

Robbins Arroyo LLP: Aphria, Inc. (APHA) Misled Shareholders According to Class Action


Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Aphria, Inc. (NYSE: APHA) filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between July 17, 2018 and December 4, 2018. Aphria produces and sells medical cannabis.

View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/aphria-inc/

Aphria Insiders Accused of Self-Dealing



According to the complaint, Aphria failed to disclose that the entities it acquired through its acquisition of LATAM Holdings Inc. lacked adequate licenses, were overvalued, and would enrich the company's CEO and other insiders at the expense of shareholders. The truth came out on December 3, 2018, when Quintessential Capital Management and Hindenburg Research published a report alleging that Aphria's recent acquisition was part of a series of transactions designed to enrich company insiders and that these acquisitions lacked operations. On this news, Aphria's stock price fell $3.39, or over 42%, over the next two trading days, closing at $4.51 on December 4, 2018.

Aphria Shareholders Have Legal Options


Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm's website.

Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

Attorney Advertising. Past results do not guarantee a similar outcome.


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