Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Canopy Development Corporation, Power Transfer LP, Grubhub, and Aurora Cannabis and Encourages Investors to Make contact with the Firm

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NEW YORK, Dec. 04, 2019 (GLOBE NEWSWIRE) — Bragar Eagel &amp Squire, P.C., a nationally recognized shareholder law firm, reminds investors that class action lawsuits have been commenced on behalf of stockholders of  Canopy Development Corporation (NYSE: CGC), Power Transfer LP (NYSE: ET), Grubhub, Inc. (NYSE: GRUB), and Aurora Cannabis, Inc. (NYSE: ACB). Stockholders have till the deadlines under to petition the court to serve as lead plaintiff. Further details about every case can be located at the hyperlink supplied.

Canopy Development Corporation (NYSE: CGC)

Class Period: Securities bought in between June 21, 2019 and November 13, 2019 on the New York Stock Exchange.

Lead Plaintiff Deadline: January 20, 2020

On November 14, 2019, prior to the market place opened, the Business issued a press release announcing their earnings for the second quarter of fiscal year 2020, posting a bigger-than-anticipated loss for the quarter. The Business announced it would be modifying its retail pricing architecture and taking a CA$32.7 million restructuring charge.

On this news, shares of Canopy fell $two.36 per share or practically 14.four% to close at $15.84 per share on November 14, 2019, damaging investors.

The complaint, filed on November 21, 2019, alleges that all through the Class Period defendants produced false and/or misleading statements and/or failed to disclose that: (1) the Business was experiencing weak demand for its softgel and oil items (two) as a outcome, the Business would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory and (three) due to the foregoing, defendants’ statements about Canopy’s receivables, organization, operations, and prospects, had been materially false and misleading and/or lacked a affordable basis at all relevant instances.

For a lot more details on the Canopy Development class action go to: https://bespc.com/cgc

Power Transfer LP (NYSE: ET)

Class Period: February 25, 2017 to November 11, 2019

Lead Plaintiff Deadline: January 20, 2020

On November 12, 2019, the Related Press reported that Power Transfer’s Mariner East pipeline project was beneath investigation by the Federal Bureau of Investigation (“FBI”). Citing interviews with present and former state personnel, the Related Press reported that the FBI’s investigation “involves the permitting of the pipeline, whether or not [Pennsylvania Governor Tom] Wolf and his administration forced environmental protection employees to approve building permits and whether or not Wolf or his administration received something in return.”

On this news, Power Transfer’s stock cost fell $.81 per share, or six.77%, more than the following two trading sessions, closing at $11.16 per share on November 13, 2019.

The complaint, filed on November 20, 2019, alleges that all through the Class Period, defendants produced materially false and/or misleading statements, as properly as failed to disclose material adverse information about the company’s organization, operational and compliance policies. Particularly, defendants produced false and/or misleading statements and/or failed to disclose that: (i) Power Transfer’s permits to conduct the Mariner East pipeline project in Pennsylvania had been secured by means of bribery and/or other improper conduct (ii) the foregoing misconduct improved the threat that the Business and/or specific of its personnel would be topic to government and/or regulatory action and (iii) as a outcome, the Company’s public statements had been materially false and misleading at all relevant instances.

For a lot more details on the Power Transfer LP class action go to: https://bespc.com/et

Grubhub, Inc. (NYSE: GRUB)

Class Period: July 30, 2019 to October 28, 2019
Lead Plaintiff Deadline: January 20, 2020

On October 28, 2019, Grubhub announced disappointing economic outcomes for its third fiscal quarter of 2019. The Business revealed that an essential Business demand metric, every day typical grubs, had really fallen six% sequentially regardless of an boost in active diners and the Company’s very touted demand initiatives. Defendants also decreased Grubhub’s 2019 earnings and income projections and stated that the Business would realize only $100 million in EBITDA for 2020, a lot more than 70% under market place expectations.

On this news, Grubhub stock decreased a lot more than 40% on October 29, 2019, to close at $33.11 per share.

The complaint, filed November 21, 2019, alleges that for the duration of the Class Period defendants produced false and misleading statements and/or failed to disclose adverse details relating to Grubhub’s organization and prospects. Particularly, defendants failed to disclose, amongst other points, that: (i) client orders had been really declining, regardless of the enormous investments the Business had produced to spur demand for and use of its platform (ii) Grubhub’s new client additions had been creating considerably decrease revenues as compared to historic cohorts mainly because these consumers had been a lot more prone to making use of competitor platforms (iii) Grubhub’s vaunted organization model beneath which it secured exclusive restaurant partnerships had failed, and Grubhub necessary to engage in the exact same aggressive non-partnered sales techniques embraced by its competitors to create important income development (iv) Grubhub was expected to invest substantial added capital in order to develop revenues and retain market place share in the face of heightened competitive dynamics and market place saturation, eviscerating the Company’s profitability and (v) Grubhub was tracking tens of millions of dollars under its income and earnings guidance and such guidance lacked any affordable basis.

For a lot more details on the Grubhub class action go to: https://bespc.com/grub

Aurora Cannabis, Inc. (NYSE: ACB)

Class Period: September 11, 2019 to November 14, 2019

Lead Plaintiff Deadline: January 21, 2020

On November 14, 2019, the Business released an earnings report in which it reported a 24% sequential decline in income of C$75.three versus C$98.9 in the preceding quarter. In addition to this decline in income, the Business also announced that plans to finalize building of added develop facilities in each Denmark and Canada have been delayed.

On this news, the Company’s share cost fell $.56, or practically 17%, to close at $two.73 per share on November 15, 2019.

The complaint, filed on November 21, 2019, alleges that all through the Class Period defendants produced materially false and/or misleading statements, as properly as failed to disclose material adverse information about the Company’s organization, operations, and prospects. Particularly, defendants failed to disclose to investors: (1) that Aurora’s income would decline in its initial quarter of fiscal 2020 ended September 30, 2019 (two) that the Business would halt building on its Aurora Nordic two and Aurora Sun facilities and (three) that as a outcome, defendants’ statements about its organization, operations, and prospects, had been materially false and misleading and/or lacked a affordable basis at all relevant instances.

For a lot more details on the Aurora Cannabis class action go to: https://bespc.com/acb

About Bragar Eagel &amp Squire, P.C.:
Bragar Eagel &amp Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents person and institutional investors in industrial, securities, derivative, and other complicated litigation in state and federal courts across the nation. For a lot more details about the firm, please check out www.bespc.com.  Lawyer marketing.  Prior outcomes do not assure equivalent outcomes. 

Make contact with Details:
Bragar Eagel &amp Squire, P.C.
Brandon Walker, Esq.
Melissa Fortunato, Esq.
(212) 355-4648
[email protected]
www.bespc.com

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