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Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of HEXO Corp. (NYSE: HEXO) from January 25, 2019 through November 15, 2019 (the “Class Period”). The lawsuit seeks to recover damages for HEXO investors under the federal securities laws.
If you bought HEXO Corp. securities between January 25, 2019 through November 15, 2019, and would like to join the action, please click “Join This Class Action,” above.
SHAREHOLDER ALERT: Zhang Investor Law Announces a Securities Class Action Lawsuit Against HEXO Corp. – HEXO
New York, N.Y., November 27, 2019. Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of HEXO Corp. (NYSE: HEXO) between January 25, 2019 and November 15, 2019, inclusive (the “Class Period”).
To join the HEXO class action, go to http://zhanginvestorlaw.com/cases/hexo-corp/ call Sophie Zhang, Esq. toll-free at 800-991-3756 or email firstname.lastname@example.org for information on the class action.
NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY RETAIN COUNSEL OF YOUR CHOICE. LEAD PLAINTIFF STATUS IS NOT REQUIRED TO OBTAIN A RECOVERY.
According to the lawsuit, throughout the Class Period (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.
A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than January 27, 2020. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to join the litigation, go to http://zhanginvestorlaw.com/cases/hexo-corp/ or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. of Zhang Investor Law toll free at 800-991-3756 or via e-mail at email@example.com.
Zhang Investor Law represents investors worldwide.