TSXV:RTI.H - Post by User
Post by
lovesawduston Oct 09, 2021 12:27pm
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Post# 33991949
Part of the scam?
Part of the scam?Here's a paragraph from an article on BNN today! I guess we can kiss our investment in this company good-bye! Sure glad I got out of Aurora in March 2019!
The class-action lawsuit, which was filed in a U.S. District Court in New Jersey on Tuesday, alleged that Aurora and its executives engineered a way to artificially inflate the company's fiscal 2019 fourth-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by selling $21.7 million worth of dried cannabis to Radient Technologies Inc. in June 2019 in a deal that "lacked commercial substance". The filing further alleged that Aurora later repurchased that same amount of dried flower back from Radient, an Edmonton-based cannabis extraction firm in which Aurora has a 12 per cent ownership stake as well as control of one board seat.