{"id":382003,"date":"2020-11-16T11:03:24","date_gmt":"2020-11-16T16:03:24","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=382003"},"modified":"2020-11-16T11:03:24","modified_gmt":"2020-11-16T16:03:24","slug":"glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/","title":{"rendered":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Shareholders with losses exceeding $50,000 are encouraged to contact the firm<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">LOS ANGELES<\/span>, <span class=\"xn-chron\">Nov. 16, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=406023209&amp;u=http%3A%2F%2Fwww.glancylaw.com%2F&amp;a=Glancy+Prongay+%26+Murray+LLP\" rel=\"nofollow noopener noreferrer\"><span class=\"xn-person\">Glancy Prongay<\/span> &amp; Murray LLP<\/a> (&#8220;GPM&#8221;) reminds\u00a0investors\u00a0of the upcoming <b><span class=\"xn-chron\">December 1, 2020<\/span><\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Aurora Cannabis, Inc. (&#8220;Aurora&#8221; or the &#8220;Company&#8221;) (NYSE: <u><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=4282560987&amp;u=https%3A%2F%2Ffinance.yahoo.com%2Fquote%2FACB&amp;a=ACB\" rel=\"nofollow noopener noreferrer\">ACB<\/a><\/u>) securities between\u00a0<b><span class=\"xn-chron\">February 13, 2020<\/span> and <span class=\"xn-chron\">September 4, 2020<\/span><\/b>,<b>\u00a0<\/b>inclusive (the &#8220;Class Period&#8221;). <\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1219482\/Glancy_Prongay_and_Murray_LLP.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1219482\/Glancy_Prongay_and_Murray_LLP.jpg\" title=\"(PRNewsfoto\/Glancy Prongay &amp; Murray LLP)\" alt=\"(PRNewsfoto\/Glancy Prongay &amp; Murray LLP)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>If you suffered a loss on your Aurora investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=3352677430&amp;u=https%3A%2F%2Fwww.glancylaw.com%2Fcases%2Faurora-cannabis-inc%2F&amp;a=https%3A%2F%2Fwww.glancylaw.com%2Fcases%2Faurora-cannabis-inc%2F\" rel=\"nofollow noopener noreferrer\">https:\/\/www.glancylaw.com\/cases\/aurora-cannabis-inc\/<\/a>. You can also contact <span class=\"xn-person\">Charles H. Linehan<\/span>, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at <a target=\"_blank\" href=\"mailto:shareholders@glancylaw.com\" rel=\"nofollow noopener noreferrer\">shareholders@glancylaw.com<\/a> or visit our website at <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=734392459&amp;u=http%3A%2F%2Fwww.glancylaw.com%2F&amp;a=www.glancylaw.com\" rel=\"nofollow noopener noreferrer\">www.glancylaw.com<\/a> to learn more about your rights.<\/p>\n<p>On <span class=\"xn-chron\">September 8, 2020<\/span>, the Company announced that it expected to record up to <span class=\"xn-money\">$1.8 billion<\/span> in goodwill impairment charges in fourth quarter 2020. According to Aurora&#8217;s press release, these charges included &#8220;up to <span class=\"xn-money\">$90 million<\/span>&#8221; in fixed asset impairment charges &#8220;due to production facility rationalization, and a charge of approximately <span class=\"xn-money\">$140 million<\/span> in the carrying value of certain inventory, predominantly trim, in order to align inventory on hand with near term expectations for demand.&#8221;<\/p>\n<p>On this news, the Company&#8217;s stock price fell <span class=\"xn-money\">$0.99<\/span> per share, or more than 11%, to close at <span class=\"xn-money\">$7.52<\/span> per share on <span class=\"xn-chron\">September 8, 2020<\/span>, thereby injuring investors.<\/p>\n<p>The complaint filed in this class action 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&#8217;s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that Aurora had significantly overpaid for previous acquisitions and experienced degradation in certain assets, including its production facilities and inventory; (2) the Company&#8217;s purported &#8220;business transformation plan&#8221; 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) that, as a result of the foregoing, Defendants&#8217; positive statements about the Company&#8217;s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\u00a0<\/p>\n<p>Follow us for updates on <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=3634253500&amp;u=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fglancy-prongay-murray-llp&amp;a=LinkedIn\" rel=\"nofollow noopener noreferrer\">LinkedIn<\/a>, <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=3007545321&amp;u=https%3A%2F%2Ftwitter.com%2FGPM_llp&amp;a=Twitter\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>, or <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=1369027456&amp;u=https%3A%2F%2Fwww.facebook.com%2FGlancyLawFirm%2F&amp;a=Facebook\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>.<\/p>\n<p>If you purchased\u00a0or otherwise acquired Aurora securities during the Class Period,\u00a0you may move the Court no later than\u00a0<b><span class=\"xn-chron\">December 1<\/span>, 2020\u00a0<\/b>to ask the Court to appoint you as lead plaintiff. To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no\u00a0action and remain an absent member of the Class. If you wish to\u202flearn more\u202fabout this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact\u00a0Charles\u00a0Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, <span class=\"xn-location\">Los Angeles California<\/span> 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to\u00a0<a target=\"_blank\" href=\"mailto:shareholders@glancylaw.com\" rel=\"nofollow noopener noreferrer\">shareholders@glancylaw.com<\/a>, or visit our website at\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=2982054-1&amp;h=734392459&amp;u=http%3A%2F%2Fwww.glancylaw.com%2F&amp;a=www.glancylaw.com\" rel=\"nofollow noopener noreferrer\">www.glancylaw.com<\/a>. If you inquire by email please include your mailing address, telephone number and number of shares purchased.\u00a0<\/p>\n<p>This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.<\/p>\n<p>\u00a0<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=LA92017&amp;sd=2020-11-16\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay--murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb-301173738.html\">http:\/\/www.prnewswire.com\/news-releases\/glancy-prongay&#8211;murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb-301173738.html<\/a><\/p>\n<p>SOURCE  <span class=\"xn-person\">Glancy Prongay<\/span> &amp; Murray LLP<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=LA92017&amp;Transmission_Id=202011161100PR_NEWS_USPR_____LA92017&amp;DateId=20201116\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shareholders with losses exceeding $50,000 are encouraged to contact the firm PR Newswire LOS ANGELES, Nov. 16, 2020 \/PRNewswire\/ &#8212;\u00a0Glancy Prongay &amp; Murray LLP (&#8220;GPM&#8221;) reminds\u00a0investors\u00a0of the upcoming December 1, 2020deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Aurora Cannabis, Inc. (&#8220;Aurora&#8221; or the &#8220;Company&#8221;) (NYSE: ACB) securities between\u00a0February 13, 2020 and September 4, 2020,\u00a0inclusive (the &#8220;Class Period&#8221;). If you suffered a loss on your Aurora investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/aurora-cannabis-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-382003","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB) - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB) - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Shareholders with losses exceeding $50,000 are encouraged to contact the firm PR Newswire LOS ANGELES, Nov. 16, 2020 \/PRNewswire\/ &#8212;\u00a0Glancy Prongay &amp; Murray LLP (&#8220;GPM&#8221;) reminds\u00a0investors\u00a0of the upcoming December 1, 2020deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Aurora Cannabis, Inc. (&#8220;Aurora&#8221; or the &#8220;Company&#8221;) (NYSE: ACB) securities between\u00a0February 13, 2020 and September 4, 2020,\u00a0inclusive (the &#8220;Class Period&#8221;). If you suffered a loss on your Aurora investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/aurora-cannabis-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, &hellip; Continue reading &quot;Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. 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(ACB) - Market Newsdesk","og_description":"Shareholders with losses exceeding $50,000 are encouraged to contact the firm PR Newswire LOS ANGELES, Nov. 16, 2020 \/PRNewswire\/ &#8212;\u00a0Glancy Prongay &amp; Murray LLP (&#8220;GPM&#8221;) reminds\u00a0investors\u00a0of the upcoming December 1, 2020deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Aurora Cannabis, Inc. (&#8220;Aurora&#8221; or the &#8220;Company&#8221;) (NYSE: ACB) securities between\u00a0February 13, 2020 and September 4, 2020,\u00a0inclusive (the &#8220;Class Period&#8221;). If you suffered a loss on your Aurora investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at https:\/\/www.glancylaw.com\/cases\/aurora-cannabis-inc\/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, &hellip; Continue reading \"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-16T16:03:24+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1219482\/Glancy_Prongay_and_Murray_LLP.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/glancy-prongay-murray-llp-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Glancy Prongay &amp; Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. 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