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APHA.US

id: 1662

Aphria (APHA) CAD $30M Investor Settlement

Late claims are being considered for compensation, subject to approval.

$30,000,000

Cash Settlement

CV-19-0061408600 CP

Case number

01/29/2018

Class period Start

12/03/2018

Class period End

08/26/2025

Claim deadline

Aphria (APHA) has agreed to settle CAD $30,000,000 with investors to resolve claims that it misled the market regarding its 2018 international acquisitions of Nuuvera and LATAM.

Outline:

Aphria announced major international acquisitions in 2018 as part of its global cannabis expansion strategy. Investors later alleged the company overstated the value and benefits of those transactions. Reports questioning the deals triggered sharp stock declines in 2018. Investors filed suit and Aphria later agreed to a CAD $30 million settlement.

Timeline:
January 29, 2018: Aphria announced the acquisition of Nuuvera for approximately $425 million.
March 22–23, 2018: Reports questioning the deal and potential insider benefits triggered a significant share price decline.
July 17, 2018: Aphria announced the acquisition of LATAM Holdings Inc. to expand in Latin America.
December 3, 2018: New disclosures raised concerns about the valuation and legitimacy of the LATAM assets, leading to another sharp stock drop.
February 2019: Investors filed a Canadian securities class action lawsuit.
February 5, 2025: The parties executed a CAD $30 million settlement agreement.
March 27, 2025: The Ontario Superior Court of Justice approved the settlement.
Background:

Aphria was a major Canadian cannabis producer during the rapid expansion of the industry in 2017 and 2018. The company pursued international acquisitions as part of its strategy to build a global cannabis business and expand into emerging markets.

In January 2018, Aphria announced the acquisition of Nuuvera, describing the deal as a key step in developing an international cannabis platform. Analysts and short-sellers later questioned the valuation of the transaction and raised concerns that insiders may have benefited from the deal.

Several months later, Aphria announced the acquisition of LATAM Holdings to expand its presence in Latin America. In December 2018, disclosures and reports raised concerns about the legitimacy and valuation of the LATAM assets, which triggered another sharp decline in the company’s stock.

Investors later filed a Canadian securities class action alleging Aphria misrepresented the value and strategic benefits of these acquisitions. Aphria denied the allegations but agreed to a CAD $30 million settlement to resolve the claims.

What Can Investors Expect Now?

Aphria agreed to a CAD $30 million settlement with $APHA investors to resolve claims that it misled them about its acquisitions of Nuuvera and LATAM Holdings.

If you were damaged due to this situation, you can file for a payout and get your share of the settlement. You can check if you are eligible and other details in the FAQ section.

Case Type

Canadian Securities Class Action

Case Status

Accepting Late Claims

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Failure to Disclose

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Filing date

02/07/2019

Plaintiffs

Vecchio Longo Consulting Services Inc.

Attorneys

Rochon Genova LLP

Defendants

Vecchio Longo Consulting Services Inc.

Judge

E.M. Morgan

Administrator

Verita Global

Attorney fee

$9,000,000

Trades matching type

FIFO

Frequently Asked Questions

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