Aurora Cannabis Inc. Securities Litigation (2020)

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Lawsuit Overview

Defendant:Aurora Cannabis Inc.
Date Filed:October 2nd, 2020
Sector:Consumer Durables
Industry:Specialty Chemicals
Class Start Date:February 13th, 2020
Class End Date:September 4th, 2020

According to the Complaint, Aurora Cannabis Inc. produces and distributes medical cannabis products worldwide.

The Complaint alleges that thought the Class Period, Defendants made materially false and/or misleading because they misrepresented and failed to disclose the following adverse facts pertaining to the Company's business, operations, and prospects, which were known to Defendants or recklessly disregarded by them. Specifically, the Complaint alleges Defendants made false and/or misleading statements and/or failed to disclose 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.

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First Identified Complaint

Stephen Lawless, et al. v. Aurora Cannabis Inc., et al.

Date Filed:October 2nd, 2020
Class Period Start:February 13th, 2020
Class Period End:September 4th, 2020
First Identified Complaint Filings
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