Levi & Korsinsky, LLP announces that a HEXO class action lawsuit has been commenced on behalf of investors who purchased HEXO Corp. (HEXO) securities between January 25, 2019 and November 15, 2019. For more on the HEXO Class Action please contact us today.
According to the HEXO lawsuit, throughout the Class Period defendants 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 of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.
TO LEARN MORE ABOUT THE HEXO CLASS ACTION, VISIT: https://www.zlk.com/pslra-1/hexo-corp-loss-form?wire=9&prid=4629
If you suffered a loss in HEXO you have until January 27, 2020 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn’t require that you serve as a lead plaintiff.
Levi & Korsinsky is a national firm with offices in New York, California, Connecticut, and Washington D.C. The firm’s attorneys have extensive expertise and experience representing investors in securities litigation and have recovered hundreds of millions of dollars for aggrieved shareholders. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171