Aphria Shareholder Alert By Former Louisiana Attorney General

Kahn Swick & Foti, LLC Reminds Investors with Losses in Excess of $100,000 of Lead Plaintiff Deadline in Class Action Lawsuit

LOUISIANA: Kahn Swick & Foti and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until February 4, 2019 to file lead plaintiff applications in a securities class action lawsuit against Aphria Inc. (NYSE: APHA), if they purchased the Company’s securities between July 17, 2018 and December 4, 2018, inclusive (the “Class Period”). This action is pending in the United States District Court for the Southern District of New York.

What You May Do

If you purchased securities of Aphria and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-apha/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by February 4, 2019.

About the Lawsuit

Aphria and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.

On December 3, 2018, Hindenburg Research reported in an article entitled, “Aphria: A Shell Game with a Cannabis Business on the Side,” that an extensive investigation revealed that “Aphria is part of a scheme orchestrated by a network of insiders to divert funds away from shareholders into their own pockets” and detailing the questionable value of its investments.

On this news, the price of Aphria’s shares plummeted.  The case is Gloschat v. Aphria Inc. et al, 18-cv-11427.

Medical Marijuana Moves To Louisiana House

LOUISIANA: A bill that would expand medical marijuana in Louisiana cleared another hurdle here Monday, moving it one step away from final legislative passage.

Mills’ bill would expand the number of conditions that could be treated with the drug, which would be taken orally in an oil form, change the wording from “prescribe” to “recommend” to protect doctors and offer public bids to grow the crop if the LSU and Southern agcenters decline to cultivate it.Members of the House Health and Welfare Committee voted 8-6 in favor of Senate Bill 271 by Fred Mills, R-Parks, after passionate testimony for and against the measure.

Parents like Katie Corkern of Amite pleaded with the committee to support the bill, saying it was the “last hope” for her 9-year-old son Connor, who suffers from a severe form of epilepsy.

“He’s been seizing since he was 6 months old and hasn’t stopped,” said Corkern, whose voice broke with emotion. “We’ve tried 17 (legal) medications with no success and horrendous side effects. We’ve watched our friends move out of state and see their success (with medical pot). Connor has run out of options in Louisiana.”

Bobby Jindal Signs Marijuana Bills That Reform Criminal Penalties, Medical Marijuana Access

LOUISIANA:  Gov. Bobby Jindal on Monday signed two bills that in one year represent more progress on reforming marijuana laws than the state has made in the 24 years since legalizing medical marijuana in 1991.

In the case of one of the bills, which would set up a framework for dispensing marijuana for medical purposes (SB 143), it will make Louisiana the first state in the South to make marijuana available for a wide range of chronically ill patients. The state passed medical marijuana legislation in 1991, but never set up a framework for how the state would cultivate, prescribe or dispense the drug.

The other bill (HB 149) would reform criminal penalties for marijuana, making it a misdemeanor rather than a felony for a second offense of marijuana possession. It also allows first-time offenders to erase their first conviction for possessing marijuana if they don’t re-offend within two years.

Bill To Reduce Marijuana Penalties In Louisiana Passes Full Senate

LOUISIANA:  A proposal to soften Louisiana’s harsh marijuana laws by reducing penalties for possession continues to gain steam in the Louisiana Legislature.

The Senate voted 27-12 Monday (May 25) to advance legislation that would create a new penalty system for marijuana possession dealing with amounts less than 2.5 pounds.

The measure’s sponsor, J.P. Morrell, D-New Orleans, said his bill (SB 241) brings Louisiana’s marijuana laws closer in line with other states, “in a way that is more humane.” For example, the bill reduces the maximum penalty for possession from 20 years in prison to eight, raises the threshold for a felony-level possession charge and adds a second-chance provision for first-time offenders.

Under current law, the maximum penalties for possession of any amount of marijuana up to 60 pounds are a $500 fine and six moths in jail for a first offense (a misdemeanor), a $2,500 fine and five years in prison for a second offense (a felony); and a $5,000 fine and a 20-year prison term for a third or subsequent offense (a felony).

Louisiana’s Medical Marijuana Legislation Slides Through Senate, Headed to House

LOUISIANA:  The Louisiana Legislature on Monday (May 4) moved closer to authorizing pharmacies to dispense medical marijuana to patients in Louisiana. The Senate rubber-stamped the legislation, which spells out how the state’s medical marijuana industry would work, by a vote of 22-13.

If the bill is adopted into law, those with a prescription could obtain the drug in non-smokable form at one of 10 dispensaries across the state. The version of the bill that passed Monday authorizes one growing site. It also restricts the use of medical marijuana to patients suffering from glaucoma, spastic quadriplegia and for those undergoing chemotherapy treatment for cancer.

Senate Committee Approves Medical Marijuana Bill

LOUISIANA:  A Senate committee has approved a bill that could make medical marijuana available to those suffering from cancer, glaucoma and a severe form of cerebral palsy.

The proposal by Sen. Fred Mills, a Breaux Bridge Republican, would allow patients to consume refined forms of marijuana, but prohibits smoking the plant.

Law enforcement groups have historically opposed medical marijuana.

But Michael Ranatza, head of the Louisiana Sheriffs’ Association, on Wednesday supported Mills’ proposal, saying he had a change of heart due to the passionate advocacy of a colleague’s terminally-ill daughter, who died of cancer.

Could Medical Marijuana Solve State’s Budget Woes?

LOUISIANA:  While a small group of states are cashing in on cannabis, the question is being raised if medical marijuana has a future in Louisiana with pot and politics starting to mix in some circles.

The midterm elections are lighting up the debate over legalizing medical marijuana.

In a televised debate back on October 14, Dr. Bill Cassidy said he supported the legalization of medical cannabis and this week the issue was back in the headlines after Cassidy got an unlikely endorsement from pro-marijuana supporters.

It comes just as the Jindal Administration announced major budget cuts because of a $180 million budget shortfall and now supporters say they may have the ammunition they need to get state lawmakers on board.

 

Unexpected Delivery Of $40,000 Worth Of Marijuana Arrives On Uptown Resident’s Porch

LOUISIANA: An Uptown resident was stunned to find an estimated $40,000 worth of marijuana in a package addressed to his home Tuesday morning, and he and his family are disturbed by the mystery of who sent it and why as they hope for answers from federal investigators, he said.

The man — who lives near Soniat and Cucullu streets but whose name is being withheld by Uptown Messenger — said his dog started barking around 10:30 a.m. Tuesday, signalling that someone was at the door, and when he opened it he saw his usual postal carrier walking away and a package on his porch.

“It was all taped up like Fort Knox,” he said.

When he got the top open, he saw what appeared to be a large quantity of marijuana — the shipping label said the package weighed 8.4 pounds, he said. He immediately called police, and when detectives from the NOPD major-case narcotics unit arrived, they counted into evidence what appeared to be seven or eight large packages or marijuana from inside the box and said it appeared to be of good quality, he said.

The shipping address was definitely the recipient’s home, although the name on the package was a strange variation on the spelling of his name, he said. The box had a return address in Washington state, and it had been sent via overnight delivery, he said.

Louisiana Marijuana Bill Suggests Lessening Penalties On Offenders

 

LOUISIANA:  Thursday at the state Capitol, Louisiana lawmakers will be considering one of as many as 10 bills dealing with marijuana.

House Bill 14, which is authored by State Representative Austin Badon, goes before committee the House Committee on Administration of Criminal Justice. The bill would dramatically lessen criminal penalties for simple marijuana possession.

Under current state law, pot smokers can get a six-month sentence on a first offense and up to five years and a $2,500 fine on a second offense. Anyone convicted three or more times is open to a 20-year jail sentence and a $5,000 fine.

Medical Marijuana Sparks Hot Debate In Louisiana

LOUISIANA:  Will Louisiana join 20 other states that have approved medicinal use of marijuana? Actually Louisiana already did that more than 20 years ago, but did not allow it to be dispensed to patients.

That could change this year when the legislature meets.

Labs are turning weed into oil and pill form for patients in states that have approved medicinal use of marijuana. But the plant’s active ingredient — THC — has long been available by prescription under the name Marinol. The problem for patients?

“Cost is a big deal,” says, Dr. Jay Marion, an associate professor of medicine at LSU Health Sciences Center. [Read more…]