(May 5, 2022) Wayland Group Corp., (“WAYL”) filed papers seeking bankruptcy protection and it was liquidated by selling assets for pennies on the dollar ~ and back to the same sellers! Investors lost. The Court approved and issued a “Stay of Litigation” so that investors could not advance their claims for damages. On February 28, 2022, the Stay of Litigation expired.
The Quebec, Canadian court was quick to protect investors: the Honorable Donald Bisson J.S.C. authorized a group of Québécois investors to advance a class cause of action against WAYL defined as:
All Québec residents, other than Excluded Persons, who acquired Wayland’s Securities, on or after January 24, 2018 through April 23, 2019, inclusive, and who held some or all of those Securities until after the release of at least one of the Public Corrective Disclosures.
The Court’s decision can be found at Dillon c. Wayland Group Corp., 2022 QCCS 1553.
Thousands of investors lost their hard-earn money! In fact, we believe that there are over 10,000 investors lost money. We encourage all investors to contact us for more information. We are currently reviewing documents produced to us ~ the law firm representing the investors ~ from Wayland Group and associated third-parties.
Investors are being represented by Charles O’Brien, LORAX Litigation (Quebec) and Andrew Morganti and Albert Pelletier, Morganti & Co. (United States), at [email protected].