Aphria (APHA) CAD $30M Investor Settlement
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.
Frequently Asked Questions
All persons and entities who acquired Aphria Inc. common shares between January 29, 2018, at 7:00 a.m. EST and December 3, 2018, at 8:25 a.m. EST, and were damaged thereby.
No, if you have purchased securities within the class period, you are eligible to participate.
You can participate in the settlement and retain (or sell) your securities.
The entire process usually takes 4 to 9 months after the claim deadline. But the exact timing depends on the court and settlement administration.
If you're eligible, you can file your claim directly from this case page by clicking the "Collect Payout" button.
More than 100 companies are currently paying out settlements. Connect your brokerage account to automatically check which ones you may have missed — or file manually for this case.
11th.com is an investor recovery company that helps investors track and collect securities class action settlements. We will:
1. Prepare documents for your payout.
2. Audit the claim and make sure you get the maximum possible payout.
3. File a claim with the settlement administration.
4. Correspond with the settlement administration to resolve emerging issues.
5. Deliver payout directly to your brokerage account.
There is no upfront cost, but we will deduct 20% of the recovered amount as a commission for our services.