SAN DIEGO & TORONTO--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Liberty Health Sciences Inc. (OTC: LHSIF) filed a class action complaint against the company for alleged violations of the Securities and Exchange Act of 1934 between June 28, 2018 and December 3, 2018. Liberty Health produces and distributes medical cannabis primarily in the State of Florida.
View this information on the law firm's Shareholder Rights Blog: https://www.robbinsarroyo.com/liberty-health-sciences-inc/
Liberty Health Accused of Scheming to Benefit Its Insiders at Shareholders' Expense
According to the complaint, Liberty engaged in a scheme with cannabis distributor Aphria Inc. by making fraudulent acquisitions to provide undue benefits to both companies' insiders. The illicit dealings came to light on December 3, 2018, when a research report claimed that Aphria was "part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets." The article further detailed an investigation into Aphria's latest poor quality investments, including an abandoned building on dilapidated property in Jamaica. On this news, Liberty's stock fell nearly 34% on December 4, 2018. Then, on December 6, 2018, when another article revealed that Liberty officials ran multiple pump and dump schemes, Liberty's stock fell 7% further, closing at $0.66 per share on December 7, 2018.
Liberty Health Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leo Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, or via the shareholder information form on the firm's website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.
Attorney Advertising. Past results do not guarantee a similar outcome.
