(November 14, 2023). We are pleased to announce that the Ontario Superior Court of Justice (the “Court”) has approved the Settlement Agreement in Daniel Relvas v. Auxly Cannabis Group Inc., bearing Court File No. CV-19-00617136-00CP (the “Action”).
The Action was commenced on behalf of persons and entities who purchased or otherwise acquired Auxly Cannabis Group Inc. (“Auxly”) common shares (TSX: XLY) and (FRA: 3KF) in the secondary market, on or after November 12, 2018, and held some or all of those securities until the close of trading on February 6, 2019.
In the Action it is alleged that during the Class Period, the Defendant made misrepresentations concerning material facts regarding the status of its project with FSD Pharma Inc. to build-out 220,000 square feet of cannabis cultivation space in Cobourg, Ontario.
When the Company announced the problem ~ likely a material change ~ the share price dropped between $0.07 and $0.11 per share.
How to Collect Your Money
Class Counsel are currently working a website developer to create an online submission forum for Investors to learn which shares are eligible to receive compensation. This website will be launched after December 15, 2023, and likely around January 2, 2023.
Berger Montague (Canada) PC is a law firm that investigates, litigates and resolves economic and financial disputes. You may learn more at www.bergermontague.ca
For further information: Questions for the Class Members’ lawyers may be directed to: Berger Montague (Canada) PC, 330 Bay Street, Suite 1302, Toronto, ON M5H 2S8, Tel: 647.598.8772 ext 2, Email: [email protected]