NEW ORLEANS, May 4, 2020 /PRNewswire/ -- Kahn Swick & Foti, LLC ("KSF") and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have only until May 5, 2020 to file lead plaintiff applications in securities class action lawsuits against Tilray, Inc. (NasdaqGS: TLRY), if they purchased the Company's securities between January 15, 2019 and March 2, 2020, inclusive (the "Class Period"). These actions are pending in the United States District Courts for the Eastern and Southern Districts of New York.
What You May Do
If you purchased securities of Tilray and would like to discuss your legal rights and how these cases might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-tlry/ to learn more. If you wish to serve as a lead plaintiff in the class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by May 5, 2020.
About the Lawsuits
Tilray and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 2, 2020, the Company announced its 4Q and FY 2019 financial results, disclosing a $321.2 million net loss for the year, or $3.20 per share, compared to $67.7 million, or $0.82 per share, for 2018, and "non-cash charges of $112.1 million related to impairment of the Authentic Brands Group LLC ('ABG') agreement as well as $68.6 million in inventory reserves."
On this news, the price of Tilray's shares plummeted.
The first-filed case is Chad Ganovsky, et al. v. Tilray, Inc., et al., 20-cv-01240.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
1100 Poydras St., Suite 3200
New Orleans, LA 70163
SOURCE Kahn Swick & Foti, LLC