NEW YORK, Jan. 14, 2020 (GLOBE NEWSWIRE) -- Pawar Law Group announces that a class action lawsuit on behalf of shareholders who purchased shares of HEXO Corp. (NYSE: HEXO) from January 25, 2019 through November 15, 2019, inclusive (the “Class Period”). The lawsuit seeks to recover damages for HEXO Corp. investors under the federal securities laws.
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.
To express an interest in the class action, go here or call Vik Pawar, Esq. toll-free at 888-589-9804 or email info@pawarlawgroup.com for information on the class action.
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.
No class has been certified. Until a class is certified, you are not represented by counsel unless you hire one. You may hire counsel of your choice. You may also do nothing at this time and be an absent member of the class. Your ability to share in any future recovery is not dependent upon being a lead plaintiff. Attorney advertising.
Pawar Law Group represents investors from around the world.
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Contact:
Vik Pawar, Esq.
Pawar Law Group
20 Vesey Street, Suite 1410
New York, NY 10007
Tel: (917) 261-2277
Fax: (212) 571-0938
info@pawarlawgroup.com
