DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Against Aurora Cannabis, Inc. (ACB)

<br /> DEADLINE REMINDER: Law Offices of Howard G. Smith Reminds Investors of Looming Deadline in the Class Action Against Aurora <a title class="aalmanual" target="_blank" href="https://v.gotanka.com/869ea410-c449-4a26-bab5-867674e5a61d" rel="noopener">Cannabis</a>, Inc. (ACB)<br />

Shareholders with losses exceeding $50,000 are encouraged to contact the firm

PR Newswire


BENSALEM, Pa.

,

Oct. 19, 2020

/PRNewswire/ — Law Offices of Howard G. Smith reminds investors of the upcoming


December 1, 2020


deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB) securities between


February 13, 2020

and

September 4, 2020


,


inclusive (the “Class Period”).

Investors suffering losses on their Aurora investments are encouraged to contact the Law Offices of

Howard G. Smith

to discuss their legal rights in this class action at 888-638-4847 or by email to

[email protected]

.

On

September 8, 2020

, the Company announced that it expected to record up to

$1.8 billion

in goodwill impairment charges in fourth quarter 2020. According to Aurora’s press release, these charges included “up to

$90 million

” in fixed asset impairment charges “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.”

On this news, the Company’s stock price fell

$0.99

per share, or more than 11%, to close at

$7.52

per share on

September 8, 2020

, thereby injuring investors.

The complaint filed 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 the Company 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 Aurora would record significant goodwill and asset impairment charges; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.

If you purchased or otherwise acquired Aurora securities during the Class Period, you may move the Court no later than


December 1

, 2020

to ask the Court to appoint you as lead plaintiff if you meet certain legal requirements. To be a member of the class action 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 action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of

Howard G. Smith

, 3070 Bristol Pike, Suite 112,

Bensalem, Pennsylvania

19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to

[email protected]


, or visit our website at

www.howardsmithlaw.com


.

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


Contacts


Law Offices of

Howard G. Smith



Howard G. Smith, Esquire


215-638-4847

888-638-4847

[email protected]

www.howardsmithlaw.com

Cision
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SOURCE Law Offices of

Howard G. Smith

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