Aphria defends against short-seller report: Update

|About: Aphria Inc. (APHA)|By:, SA News Editor

Note: Updates with stock movement, management stock purchases.

Aphria (NYSE:APHA), which sank 23% in Monday's session after a short-seller called the company a "shell game", calls the report a "malicious and self-serving attempt to profit by manipulating Aphria's stock price at the expense of Aphria's shareholders."

APHA says its executive management bought $3.1M of the company's stock on Monday to demonstrate their confidence in its business plan.

Aphria slips a further 22% in early trading.

In response to the short-seller's reference to Aphria's LATAM acquisition, the company said it received financial advice and fairness opinion from a reputable firm that the consideration it offered was fair to the company and its shareholders.

Previously: Select marijuana stocks follow Aphria lower (Dec. 3)

Previously: Aphria -15% on short pitch at Kase conference (Dec. 3)

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