Law firms investigate Aphria
Due to Aphria’s (APHA) (APHQF) broad sell-off, several investors lost their investments. The investments might not be recovered if the claims against the company are true. As a result, Johnson Fistel LLP, a law firm, announced that it’s investigating Aphria for possibly violating the securities law. In a statement, the law firm sought information related to violations from the public and past employees. Johnson Fistel LLP also encouraged investors that suffered losses to contact the firm.
Other firms that are also investigating Aphria include Faruqi & Faruqi LLP, Bronstein, Gewirtz & Grossman LLC, Rosen Law Firm, Bernstein Liebhard LLP, Kaskela Law LLC, and Kaplan Fox.
The allegations against Aphria are beginning to poke holes in the company’s international strategy. Aphria aims to establish markets in Europe, Africa, and Pan Asia. The latest developments against Aphria constrict the company’s ability to raise capital and fuel its international growth.
Aphria’s struggles could benefit Canopy Growth (WEED), Aurora Cannabis (ACB) (ACBFF), Tilary (TLRY), and Cronos Group (CRON)—the top companies in the crowded cannabis industry. The industry includes more than 130 licensed producers (MJ) in Canada alone.
Next, we’ll discuss analysts’ ratings and downgrades for Aphria on December 4