NEW YORK, March 09, 2020 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Tilray, Inc. (“Tilray” or the “Company”) (NASDAQ: TLRY) in the United States District Court for the Eastern District of New York on behalf of those who purchased or acquired the securities of Tilray between January 15, 2019 and March 2, 2020, inclusive (the “Class Period”). The lawsuit seeks to recover damages for Tilray investors under the federal securities laws.
The Complaint alleges that Defendants made false and/or misleading statements and/or failed to disclose that: (1) the purported advantages of the marketing and revenue sharing agreement with Authentic Brands Group (the “ABG Agreement”) were significantly overstated; (2) the underperformance of the ABG Agreement would foreseeably have a significant impact on the Company’s financial results; and (3) as a result, Defendants’ public statements were materially false and/or misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.
Investors who purchased or otherwise acquired shares of Tilray during the Class Period should contact the Firm prior to the May 5, 2020 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].
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