Cannabis Stocks Crash / Lawsuit Against HEXO Corp.
A LEADING LAW FIRM, Announces Filing of Securities Class Action Lawsuit Against HEXO Corp. - HEXO
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
(1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value;
(2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors;
(3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and
(4) as a result, HEXO's public statements were materially false and misleading at all relevant times.
When the true details entered the market, the lawsuit claims that investors suffered damages.
Disclaimer:
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature,
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
(1) HEXO's reported inventory was misstated as the Company was failing to write down or write off obsolete product that no longer had value;
(2) HEXO was engaging in channel-stuffing in order to inflate its revenue figures and meet or exceed revenue guidance provided to investors;
(3) HEXO was cultivating cannabis at its facility in Niagara, Ontario that was not appropriately licensed by Health Canada; and
(4) as a result, HEXO's public statements were materially false and misleading at all relevant times.
When the true details entered the market, the lawsuit claims that investors suffered damages.
Disclaimer:
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature,
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
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