Providing customers with innovative, high-quality cannabis products, Aurora’s brands continue to break through as industry leaders in the medical, performance, wellness and recreational markets wherever they are launched. The Company’s brand portfolio includes Aurora, Aurora Drift, San Rafael ‘71, Daily Special, AltaVie, MedReleaf, CanniMed, Whistler, and Reliva CBD. Headquartered in Edmonton, Alberta, Aurora is a pioneer in global cannabis dedicated to helping people improve their lives. and including CIBC World Markets Inc.Īurora Cannabis plans to use the net proceeds of the offering to fund growth opportunities, working capital, and other general corporate purposes.Īurora Cannabis is a global leader in the cannabis industry serving both the medical and consumer markets. The units were sold through a syndicate of underwriters led by Nesbitt Burns Inc. Each unit is comprised of one common share and one half of one common share purchase warrant. (TSX:ACB) (NYSE: ACB) completed a US$165 millionĬross-border offering of units pursuant to a supplement to its base shelf prospectus. On November 16, 2020, Aurora Cannabis Inc. Municipal, Land Use Planning & Development.International Arbitration & Cross-Border Litigation.White Collar Defence, Fraud & Investigations.Structured Finance, Derivatives & Securitization.Competition, Antitrust & Foreign Investment.All told, the price of Aurora common stock has fallen over 80% from its Class Period high, causing investors in the Company to suffer massive losses.
These revelations have caused the price of Aurora securities to plummet. Finally, on January 6, 2020, media reports stated that the Company had listed its nine-hectare greenhouse in Exeter, Ontario, for sale for $17 million. On December 21, 2019, Aurora announced that the Company’s Chief Corporate Officer would be stepping down. Then, on November 29, 2019, Marijuana Business Daily reported that Aurora had violated regulations for the sale of cannabis to German pharmacies.
In addition, the Company revealed that it was halting construction on two key production facilities, its Aurora Nordic 2 facility in Denmark and its Aurora Sun facility in Medicine Hat, Alberta.
#Aurora cannabis series
The market learned the truth through a series of disclosures beginning on November 14, 2019, when the Company announced disappointing first quarter of fiscal 2020 results, reporting a 25% sequential sales decline and a 33% sequential consumer cannabis revenue decline. As a result of concealing this information from the market, the Company’s securities traded at artificially inflated prices throughout the Class Period. The litigation alleges that Defendants made false and misleading statements and omissions about Aurora’s business, financial performance and prospects. Specifically, Plaintiffs allege that Defendants failed to disclose that they had materially overstated the demand and potential market for Aurora’s consumer cannabis products, that the Company had failed to comply with licensing requirements in the all-important German market, and that the Company was suffering from liquidity constraints and the over-extension of capital commitments, among other misstatements. (“Aurora” or the “Company”) securities between Januto Novem(“Class Period”).Īurora Cannabis Inc., headquartered in Edmonton, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that include Aurora, CanniMed, MedReleaf, and San Rafael '71. On October 23, 2018, the company began listing its stock on the New York Stock Exchange. This is a Consolidated securities class action litigation brought on behalf of investors who purchased or otherwise acquired Aurora Cannabis Inc.
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