Shareholders with losses exceeding $50,000 are encouraged to contact the firm
The Law Offices of Frank R. Cruz announces an investigation of Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB) on behalf of investors concerning the Company’s possible violations of federal securities laws.
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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