TLRY INVESTOR FILING DEADLINE: Bernstein Liebhard LLP Reminds Investors that Only 6 Days Remain to Make a Motion for Lead Pla...
April 29 2020 - 10:34AM
Business Wire
Bernstein Liebhard, a nationally acclaimed investor rights law
firm, reminds investors of the deadline to file a lead plaintiff
motion in a securities class action filed on behalf of investors
that purchased or acquired the securities of Tilray, Inc. (“Tilray”
or the “Company”) (NASDAQ: TLRY) between January 15, 2019, and
March 2, 2020 (the “Class Period”). The lawsuit filed in the United
States District Court for the Eastern District of New York alleges
violations of the Securities Exchange Act of 1934.
If you purchased Tilray securities, and/or would like to
discuss your legal rights and options please visit Tilray
Shareholder Class Action or contact Matthew E. Guarnero toll free
at (877) 779-1414 or MGuarnero@bernlieb.com.
The Complaint 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, operational and compliance policies.
Specifically, Defendants made false and/or misleading statements
and/or failed to disclose that: (i) the purported advantages of the
Company’s marketing and revenue sharing agreement with Authentic
Brands Group (ABG) (the “ABG Agreement”) were significantly
overstated; (ii) the underperformance of the ABG Agreement would
foreseeably have a significant impact on the Company’s financial
results; and (iii) as a result, the Company’s public statements
were materially false and misleading at all relevant times.
On March 2, 2020, Tilray issued a press release announcing the
Company’s financial results for the fourth quarter and full year
2019. Among other results, Tilray reported a net loss for the year
of $321.2 million, or $3.20 per share, compared to $67.7 million,
or $0.82 per share, for 2018. In addition, Tilray disclosed that
the Company recorded non-cash charges of $112.1 million related to
impairment of the ABG Agreement as well as $68.6 million in
inventory reserves.
On this news, Tilray’s stock price fell $2.33 per share, or
15.18%, to close at $13.02 per share on March 3, 2020.
If you purchased TLRY securities, and/or would like to
discuss your legal rights and options please visit
https://www.bernlieb.com/cases/tilrayinc-tlry-shareholder-class-action-lawsuit-stock-fraud-261/apply
or contact Matthew E. Guarnero toll free at (877) 779-1414
or MGuarnero@bernlieb.com.
If you wish to serve as lead plaintiff, you must move the Court
no later than May 5, 2020. A lead plaintiff is a representative
party acting on behalf of other class members in directing the
litigation. Your ability to share in any recovery doesn’t require
that you serve as lead plaintiff. If you choose to take no action,
you may remain an absent class member.
Since 1993, Bernstein Liebhard LLP has recovered over $3.5
billion for its clients. In addition to representing individual
investors, the Firm has been retained by some of the largest public
and private pension funds in the country to monitor their assets
and pursue litigation on their behalf. As a result of its success
litigating hundreds of lawsuits and class actions, the Firm has
been named to The National Law Journal’s “Plaintiffs’ Hot List”
thirteen times and listed in The Legal 500 for ten consecutive
years.
ATTORNEY ADVERTISING. © 2020 Bernstein Liebhard LLP. The law
firm responsible for this advertisement is Bernstein Liebhard LLP,
10 East 40th Street, New York, New York 10016, (212) 779-1414. The
lawyer responsible for this advertisement in the State of
Connecticut is Michael S. Bigin. Prior results do not guarantee or
predict a similar outcome with respect to any future matter.
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version on businesswire.com: https://www.businesswire.com/news/home/20200429005526/en/
Matthew E. Guarnero Bernstein Liebhard LLP
https://www.bernlieb.com (877) 779-1414 MGuarnero@bernlieb.com
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