(March 8, 2023) On behalf of shareholders, Class Counsel have been successful in reaching a Discovery Plan with Auxly Cannabis Group Inc. (“Auxly”) whereby it will turn over internal documents and emails of Chuck Rifici, Hugo Alves, and other insiders.
Previously, FSD Pharma, Inc. produced hundreds of pages of internal documents relating to its failed joint build-out project of the cannabis facility in Cobourg, Ontario.
During January 2023, the Ontario Superior Court of Justice, the Honourable Justice Morgan of the Ontario Superior Court of Justice certified the action: Relvas v. Auxly Cannabis Group, Inc., Court File No.: CV-13-00617136-00CP (the “Class Action”) as a class proceeding against Auxly and appointed Daniel Relvas as the representative plaintiff. The substance of the litigation has not been adjudicated by the Court (i.e. that the Defendant made misrepresentations in its Management’s Discussion and Analysis and corresponding financial statement for the Three and Nine Months Ended September 30, 2018 on November 12, 2018, that were not publicly corrected until a news release on February 7, 2019).