Aurora Cannabis Investors Get Lead Plaintiff But Not Counsel

Aurora Cannabis Inc. investors who say the company misled them secured a lead plaintiff for their proposed class action, but a federal judge in New Jersey said she needs more information before signing off on their chosen lead counsel.

Investors accuse the Canadian cannabis producer of failing to tell them it had overpaid for past acquisitions, experienced asset degradation, and was likely to record goodwill and asset impairment charges of more than $1 billion. A group of three individual investors will take on the lead role in the litigation, the U.S. District Court for the District of New Jersey said ...