AURORA CANNABIS, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Aurora Cannabis, Inc.

<br /> AURORA <a title class="aalmanual" target="_blank" href="https://v.gotanka.com/869ea410-c449-4a26-bab5-867674e5a61d" rel="noopener">CANNABIS</a>, INC. CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the District of New Jersey on behalf of investors that purchased Aurora <a title class="aalmanual" target="_blank" href="https://v.gotanka.com/869ea410-c449-4a26-bab5-867674e5a61d" rel="noopener">Cannabis</a>, Inc.<br />

LEAD PLAINTIFF DEADLINE IS DECEMBER 1, 2020

PR Newswire


NEW YORK

,

Oct. 20, 2020

/PRNewswire/ —


Wolf Haldenstein Adler Freeman

& Herz LLP

announces that a federal securities class action lawsuit has been filed in

the United States

District Court for the District of

New Jersey

on behalf of investors that purchased Aurora Cannabis, Inc. (NYSE: ACB) (“Aurora” or the “Company”) securities between

February 13, 2020

and

September 4, 2020

, inclusive (the “Class Period”).

(PRNewsfoto/Wolf Haldenstein Adler Freeman )


All


investors who purchased shares of


Aurora Cannabis, Inc.


and incurred losses are urged


to contact the firm immediately at

[email protected]

or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or

join the case

on our website,

www.whafh.com.

If you have incurred losses in the shares of Aurora Cannabis, Inc..

you




may,


no later than

December 1, 2020



,

request that the Court appoint you lead plaintiff of the proposed class. Please contact


Wolf Haldenstein

to learn more about your rights as an investor in the shares of Aurora Cannabis, Inc.

CLICK HERE TO JOIN CASE

On

February 6, 2020

, shortly before the start of the Class Period, Aurora issued a press release announcing, inter alia, a “business transformation plan,” to “better align the business financially with the current realities of the cannabis market in

Canada

while maintaining a sustainable platform for

long-term growth.”

Specifically, the press release touted that the plan was

“expected to include significant and immediate decreases in selling, general & administrative (“SG&A”) expenses and capital investment plans.”

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

.


Wolf Haldenstein

has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in

New York

,

Chicago

and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.

If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact


Wolf Haldenstein

by telephone at (800) 575-0735, via e-mail at

[email protected]

, or visit our website at

www.whafh.com.

Contact:


Wolf Haldenstein Adler Freeman

& Herz LLP


Kevin Cooper, Esq.



Gregory Stone

, Director of Case and Financial Analysis

Email:

[email protected]

,

[email protected]

or

[email protected]

Tel: (800) 575-0735 or (212) 545-4774

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

Cision
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SOURCE

Wolf Haldenstein Adler Freeman

& Herz LLP

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