The Aurora Cannabis class action lawsuit settlement is an $8.05 million cash payment resolving federal securities fraud claims against Aurora Cannabis Inc. and two former executives. A federal judge in New Jersey granted final approval on January 28, 2025, and the court approved the distribution plan on May 5, 2026, with initial payments to eligible investors estimated to begin within four to six weeks of that order.1AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation
Who Is Covered by the Settlement
The settlement class includes anyone who bought Aurora Cannabis common stock on the New York Stock Exchange between October 23, 2018, and February 28, 2020.1AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation Purchases on Canadian exchanges are not covered by this U.S. class.
Several categories of purchasers are excluded. The defendants themselves — Aurora, former CEO Terry Booth, and former COO Allan Cleiren — are out, as are former defendants Stephen Dobler, Glen Ibbott, Cameron Battley, Michael Singer, and Jason Dyck. The exclusion extends to current and former officers and directors of Aurora, their immediate family members, Aurora’s affiliates and subsidiaries, and any class member who filed a timely opt-out request before the deadline.2AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation FAQ
What the Case Was About
The lawsuit accused Aurora and its former executives of violating federal securities law by making materially false and misleading statements about the company’s financial health during the class period. The specific claims cited Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and SEC Rule 10b-5.3AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation Court Documents
At the heart of the case was a $21.7 million sale of dried cannabis to Radient Technologies in June 2019. Aurora held a 12 percent stake in Radient and a seat on its board. The plaintiffs alleged the deal was a round-trip transaction: Aurora sold the product and then repurchased it, with no real commercial substance, to inflate its fourth-quarter 2019 adjusted EBITDA.4Yahoo Finance Canada. Aurora Cannabis to Settle Shareholder Lawsuit Over Alleged Sham Pot Sales
The complaint also alleged that Aurora overstated demand for its products while masking industry-wide overproduction, a slow retail rollout in Ontario and Quebec, ongoing competition from the illegal market, compliance problems in the German pharmacy market, and liquidity strain from overextended capital commitments.5Hagens Berman Sobol Shapiro LLP. Aurora Cannabis Inc. Securities Litigation Aurora denied wrongdoing and settled without admitting liability.
How Payments Are Calculated
There is no flat per-share payout. Each eligible claimant receives a proportional share of the Net Settlement Fund based on a Recognized Claim Amount calculated for that claimant.2AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation FAQ
The Recognized Claim Amount reflects how much artificial inflation the alleged misrepresentations added to Aurora’s stock price on the days of purchase, and how much of that inflation came out of the stock when corrective information reached the market. Only shares bought during the class period and held through at least one corrective disclosure generate a recognized loss. The formula strips out price movements driven by general market and cannabis-industry forces unrelated to the alleged fraud, so two investors who bought the same number of shares can end up with very different recognized claims depending on when they bought and when they sold.2AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation FAQ
Once every claim is scored, the Net Settlement Fund is divided pro rata: your check is your Recognized Claim Amount divided by the total of all Recognized Claim Amounts, multiplied by the money left after fees, expenses, and taxes.
Key Deadlines and Payment Timing
Both deadlines that required action from class members have already passed. The opt-out deadline was January 6, 2025, and the claim filing deadline was February 27, 2025.6ZLK. Aurora Cannabis Inc. Settlement Investors who did not file a claim by that date are not eligible to receive a payment, even if they otherwise fit the class definition.
Claim review, run by JND Legal Administration, wrapped up by March 2026. Lead counsel filed a Motion for Approval of Distribution Plan on April 7, 2026, and the court approved it on May 5, 2026. As of that order, the initial distribution to authorized claimants was estimated to occur within four to six weeks.1AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation Claimants with questions about the status of a specific claim can contact JND directly.
What Comes Out of the Fund Before Payment
Several deductions reduce the $8.05 million gross settlement before it is divided among claimants. The court-approved fee structure allowed lead counsel to receive up to 25 percent of the settlement fund. Litigation expenses were capped at $150,000, and reimbursements to the lead plaintiffs for their time and expenses were capped at a combined $40,000.2AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation FAQ Notice and administration costs and any taxes owed on the settlement fund also come off the top. What remains is the Net Settlement Fund actually distributed to class members.
Robbins Geller Rudman & Dowd LLP and Hagens Berman Sobol Shapiro LLP served as co-lead counsel throughout the case.7AuroraCannabisSecuritiesLitigation.com. In re Aurora Cannabis Inc. Securities Litigation Contact
A Note on the Separate Canadian Lawsuit
This U.S. settlement does not cover a different class action pending against Aurora in Canada. That case, V.T. v. Aurora Cannabis Inc., is a consumer action, not a securities case. It alleges Aurora failed to warn users about the risk of cannabinoid hyperemesis syndrome, and it was certified by the Ontario Superior Court of Justice on May 14, 2025.8Sotos Class Actions. V.T. v. Aurora Cannabis Inc. Certification Order The class in that case is limited to Canadians who bought Aurora cannabis products between February 1, 2014, and the date the certification order becomes final and who were diagnosed with CHS during that period. Investors who lost money on Aurora shares are not part of that lawsuit, and consumers who developed CHS are not part of the U.S. securities settlement.