Watch Gabriel Grego make the case that Aphria Inc. (NYSE:APHA) spent over $200 million on shareholder Andy DeFrancesco’s smaller-than-thought Jamaican, Colombian, and Argentinian entities. Grego, leader of the hedge fund firm Quintessential Capital Management, summed up his position like this: “We believe something very sinister may be happening with this company.”
Calling his allegations “defamatory,” Aphria’s management team has since gone on the attack.
“Yesterday, I, along with other members of our Executive Management team, stepped up to demonstrate our confidence in the Company’s business plan, growth strategy, integrity and value of the assets by personally investing more than $3.1 million in Aphria’s common shares,” said CEO Vic Neufeld, according to an article in Barron’s.
Grego’s initial argument, made earlier this week at the Kase Learning Shorting Conference can be seen below. Watch, and then decide whether or not he’s telling the truth.