NEW YORK, Jan 13, 2020 (GLOBE NEWSWIRE via COMTEX) --
NEW YORK, Jan. 13, 2020 (GLOBE NEWSWIRE) -- Zhang Investor Law announces a securities class action lawsuit on behalf of shareholders who bought shares of HEXO Corp.
between January 25, 2019 and November 15, 2019, inclusive (the "Class Period").
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 case go to http://zhanginvestorlaw.com/join-action-form/?slug=hexo-corp&id=2119 or to discuss your rights or interests regarding this class action, please contact Sophie Zhang, Esq. or Spencer Lee toll-free at 800-991-3756 or email email@example.com , firstname.lastname@example.org for information on the class action.
According to the case, defendants made false and/or misleading statements and/or failed to disclose (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 has not been certified. You may retain counsel of your choice. You may take no action at this time and be an absent class member. Your ability to obtain a recovery is not dependent upon being a lead plaintiff.
Zhang Investor Law represents investors worldwide. Attorney Advertising. Prior results do not guarantee similar outcomes.
Zhang Investor Law P.C.
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New York, New York 10005
tel: (800) 991-3756
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