BENSALEM, Pa.–(BUSINESS WIRE)–Law Offices of Howard G. Smith announces an investigation on behalf of Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB) investors concerning the Company’s possible violations of federal securities laws.
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, thereby injuring investors.
If you purchased Aurora securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020, by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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