BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf Tilray, Inc. ("Tilray" or "the Company") (NASDAQ: TLRY) investors concerning the Company and its officers’ possible violations of federal securities laws.
On March 2, 2020 Tilray announced its financial results for the fourth quarter and full year 2019. For the year, the Company reported a net loss of $321.2 million, compared to a net loss of $67.7 million the previous year. Moreover, Tilray “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.”
On this news, the Company’s share price fell $2.33, or over 15%, to close at $13.02 per share on March 3, 2020, thereby injuring investors.
If you purchased Tilray securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to howardsmith@howardsmithlaw.com, or visit our website at www.howardsmithlaw.com.
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