Investigation of Tilray, Inc.

Tilray, Inc. (TLRY) Accused of Misleading Shareholders   

On January 15, 2019, Tilray announced its entry into a marketing and revenue sharing agreement with Authentic Brands Group (“ABG”), touting that “through this agreement, Tilray and ABG join forces at the intersection of science and brand to connect consumers with innovative health and wellness products.” Tilray maintained these positive statements throughout the relevant period, assuring investors that the alliance “will complement or augment existing business.” Despite auspicious projections for the agreement, on March 2, 2020, Tilray released its financial results for the fourth quarter and full year 2019, reporting a net loss for the year of $321.2 million and disclosing that “the Company recorded 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.” Since this news, Tilray’s stock price has precipitously fallen 48% from its closing price of $15.35 per share on March, 2, 2020, currently trading at around $8 per share.

If you purchased Tilray, Inc. (TLRY) securities between January 15, 2019 and March 2, 2020, you have until May 5, 2020, to ask the court to be appointed lead plaintiff for the class.

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