TORONTO–(BUSINESS WIRE)–Morganti & Co., P.C., a cross border shareholder’s rights law firm, has commenced a shareholder class action lawsuit against HEXO Corp. (“HEXO”) for publishing investor documents containing misrepresentations of material fact about the terms of its production agreement with the province of Quebec and licensing status of its production and cultivation facility in Niagara, Ontario.
The shareholders allege that these misrepresentations resulted in the market price and value of HEXO’s securities being artificially inflated or otherwise over-valued as reflected by a portion of the drop in the market price after the release of the corrective disclosures on October 10, October 28, and November 15, 2019.
Investors that purchased HEXO’s securities traded on the Toronto and Frankfurt stock exchanges may have an opportunity to recover their financial losses.
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The Firm also represents investors in litigation against Aphria Inc. (TSX: “APHA”), Auxly Cannabis Group Inc. (TSX: “XLY”), FSD Pharma, Inc. (TSX: “HUGE”), Namaste Technologies Inc. (TSXV: “N”), and Wayland Group Corp. (TSX: “WAYL”).
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