{"id":389725,"date":"2020-11-30T11:03:35","date_gmt":"2020-11-30T16:03:35","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389725"},"modified":"2020-11-30T11:03:35","modified_gmt":"2020-11-30T16:03:35","slug":"the-law-offices-of-frank-r-cruz-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\/the-law-offices-of-frank-r-cruz-reminds-investors-of-looming-deadline-in-the-class-action-lawsuit-against-aurora-cannabis-inc-acb\/","title":{"rendered":"The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)"},"content":{"rendered":"

<\/p>\n

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)<\/b><\/p>\n

Shareholders with losses exceeding $50,000 are encouraged to contact the firm<\/i><\/b><\/p>\n

LOS ANGELES–(BUSINESS WIRE<\/a>)–The Law Offices of Frank R. Cruz<\/a> reminds investors of the upcoming December 1, 2020 <\/b>deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Aurora Cannabis, Inc. (\u201cAurora\u201d or the \u201cCompany\u201d) (NYSE: ACB<\/a>) securities between February 13, 2020 and September 4, 2020<\/b>,inclusive (the \u201cClass Period\u201d).\n<\/p>\n

\nIf you are a shareholder who suffered a loss, click here<\/a> to participate.\n<\/p>\n

\nOn 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\u2019s press release, these charges included \u201cup to $90 million\u201d in fixed asset impairment charges \u201cdue 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.\u201d\n<\/p>\n

\nOn this news, the Company\u2019s 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.\n<\/p>\n

\nThe 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\u2019s 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\u2019 positive statements about the Company\u2019s business, operations, and prospects were materially misleading and\/or lacked a reasonable basis.\n<\/p>\n

\nFollow us for updates on Twitter: twitter.com\/FRC_LAW<\/a>.\n<\/p>\n

\nIf you purchased or otherwise acquired Aurora securities during the Class Period, you may move the Court no later than December 1, 2020 <\/b>to request appointment as lead plaintiff in this putative class action lawsuit. 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 the pending class action lawsuit, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com<\/a>, or visit our website at www.frankcruzlaw.com<\/a>. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.\n<\/p>\n

\nThis press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201130005354\/en\/<\/a><\/span><\/p>\n

\nThe Law Offices of Frank R. Cruz, Los Angeles
\n
Frank R. Cruz, 310-914-5007
\n
fcruz@frankcruzlaw.com
\n<\/a>
www.frankcruzlaw.com<\/a><\/p>\n

\n\u00a0\n<\/p>\n

KEYWORDS:<\/b> California United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Legal Professional Services<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB) Shareholders with losses exceeding $50,000 are encouraged to contact the firm LOS ANGELES–(BUSINESS WIRE)–The Law Offices of Frank R. Cruz 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. (\u201cAurora\u201d or the \u201cCompany\u201d) (NYSE: ACB) securities between February 13, 2020 and September 4, 2020,inclusive (the \u201cClass Period\u201d). If you are a shareholder who suffered a loss, click here to participate. On September 8, 2020, the Company announced that it expected to record up to $1.8 billion in goodwill … <\/p>\n

Continue reading “The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. (ACB)”<\/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-389725","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nThe Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. 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Cruz 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. (\u201cAurora\u201d or the \u201cCompany\u201d) (NYSE: ACB) securities between February 13, 2020 and September 4, 2020,inclusive (the \u201cClass Period\u201d). If you are a shareholder who suffered a loss, click here to participate. On September 8, 2020, the Company announced that it expected to record up to $1.8 billion in goodwill … Continue reading "The Law Offices of Frank R. Cruz Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aurora Cannabis, Inc. 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