THE TILRAY SURVEY LAUNCHES – GuruFocus.com

NEW ORLEANS, October 21, 2022

NEW ORLEANS, October 21, 2022 /PRNewswire/ — Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq.a partner at the law firm Kahn Swick & Foti, LLC (“KSF”), announces that KSF has opened an investigation into Tilray, Inc. (NasdaqGS: TLRY).

In January 2019the Company entered into a major marketing agreement with Authentic Brands Group LLC (“ABG”) in which, among other things, the Company would expand globally as ABG’s preferred cannibas supplier, receiving up to nearly half of the net turnover and a guarantee $10M annual payment. On March 2, 2020the Company disclosed a $321.2 million net loss for the year, or $3.20 per share, compared to $67.7 millionWhere $0.82 per share, for 2018, and “non-cash expenses of $112.1 million related to the impairment of the Authentic Brands Group LLC (“ABG”) agreement as well as $68.6 million in inventory reserves.”

Subsequently, the Company and certain of its officers were sued in a securities class action lawsuit accusing them of failing to disclose material information during the Class Period, in violation of federal securities laws. securities. Recently, the court presiding over the case partially denied the company’s motion to dismiss, allowing the case to proceed.

KSF’s investigation focuses on whether Tilray’s officers and/or directors breached their fiduciary duties to its shareholders or otherwise violated state or federal laws.

If you have information that could help KSF in its investigation, or if you have been a long-time Tilray shareholder and wish to discuss your legal rights, you may, at no obligation or cost to you, call toll-free 1- 877-515-1850 or email Lewis Kahn, KSF Managing Partner ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-tlry/ to learn more.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you can visit www.ksfcounsel.com.

Contact:

Kahn Swick & Foti, LLC
Lewis KahnManaging Partner
[email protected]
1-877-515-1850
1100 Poydras Street, Suite 3200
New Orleans, LA 70163

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SOURCE Kahn Swick & Foti, LLC

Helen J. Jimenez