NEW YORK, Nov. 19, 2019 /PRNewswire/ — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors who purchased shares of Aurora Cannabis Inc. (“Aurora Cannabis” or the “Company”) (NYSE: ACB) on the New York Stock Exchange.

On November 14, 2019, after the market closed, Aurora Cannabis issued a press release reporting its financial results for the first fiscal quarter of 2020 ended September 30, 2019.   Among other things, the Company reported a 24% sequential decline in revenues compared to the fourth fiscal quarter of 2019.  The Company also announced that it is offering early conversion to holders of convertible debentures due in March 2020, ceasing construction of a facility in Denmark, which is expected to save approximately $80 million over the next 12 months, and deferring construction of a facility in Canada to conserve approximately $110 million of cash.

Also on November 14, 2019, during the conference call to discuss the results, the Company’s CEO said that in the summer distributors “stocked their shelves to the limits and that was maybe a good idea in their minds because they’re not going to have supply issues for the retailers anymore, but it also affected the next quarter in which they didn’t buy as much.”  Additionally, the Company’s Chief Corporate Officer stated “[w]hat we’re seeing is that we obviously moved an awful lot of product in the previous quarter and so it takes time for them to work through the inventories.”

Following the news, Aurora Cannabis’ shares fell 17% on the New York Stock Exchange to close at $2.73 per share on November 15, 2019.  Aurora Cannabis’ shares declined an additional 16.5% the next trading to close at $2.28 per share on November 18, 2019.

If you purchased Aurora Cannabis shares and would like to discuss our investigation, please contact us by emailing [email protected] or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about your rights or interests, please contact:

Hae Sung Nam
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
350 Sansome Street, Suite 400
San Francisco, California  94104
(415) 772-4700
Fax:  (415) 772-4707
E-mail: [email protected]

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SOURCE Kaplan Fox & Kilsheimer LLP