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Show Us the Assets: Investors Demand That Mining Company Be Truthful About Its Assets
(December 13, 2018). Since January 31, 2017, Colt Resources, Inc.’s (“Colt”) securities have not traded and the Company has intentionally avoided its continuous disclosure obligations. Indeed, its investors have been in the dark only learning of material facts concerning Colt’s assets being abandoned, forfeited, lost, and sold. Prior to going to trial the plaintiff investor (a/k/a,…
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Writing Off An Investment Loss May Be Avoidable: Morganti & Co.’s Shareholder Litigation Practice
(December 13, 2018). Aggrieved investors are able to seek recovery for their investment losses from bad investments under certain circumstances. Morganti & Co. offers its legal services to represent aggrieved investors in seeking damages from directors and officers of companies that mislead investors. The legal services are provided on a contingency fee basis and the Firm…
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Morganti & Co. further expansion: New Lawyers, Mandates, and Office
(December 1, 2018). Morganti & Co., P.C., is pleased to announce that it has relocated to 21 St. Clair Street East, Suite 1102, Toronto, Ontario M4T 1L9. The space reaches approximately 3,000 sq. ft. and is in the process of being transferred into a technologically advanced legal hub. During 2018, Morganti & Co. settled three…
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U.S. High Court Protects Consumers Over International Comity
(September 4, 2018). Comity. The legal principle that political entities (such as states, nations, or courts from different jurisdictions) will mutually recognize each other’s legislative, executive, and judicial acts. The underlying notion is that different jurisdictions will reciprocate each other’s judgments out of deference, mutuality, and respect. (Cornell Law Legal Definition). In Animal Science Products, Inc.,…
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Morganti & Co., P.L.C. committed to European-based Investors
(August 10, 2018). Morganti & Co., reminds European-based investors that Morganti & Co., is the European retail-investor shareholders’ North American law firm. With extensive contacts in United States, Caribbean, Central America, and Europe, Morganti & Co., will be in England, Germany, Netherlands, and Panama prior to year-end meeting with clients and lawyers. Andrew Morganti will…
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Q&A: Disclosure of Internal Investigations
(August 11, 2018). Morganti & Co has received several inquiries from investors as to when companies must disclose internal investigation. The following note is our Firm’s general approach. Question: When does a reporting issue have the affirmative duty to disclose internal investigations? The answer of this question should commence with examining whether the internal investigation…
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A Lesson to Invest in Numbers not Emotions: Concordia International Corporation
(July 15, 2018). Dear Savvy Reader: Before you read any further, please look at the five (5) year chart for Concordia International Corp. (TSX: “CXR”). The Company’s shares were trading over $100 and are now under $1.00. This securities class action arises out of Concordia’s failure to disclose adverse material facts as well as misrepresentations…
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MORGANTI & CO. ADDS ASSOCIATE
June 1, 2018. Ian Liverovich has joined Morganti & Co., P.C. as an associate. His focus will be representing institutional and retail investors in claims relating to cross-border commodity, financial market, and securities manipulation. Ian previously worked in Washington, D.C. and articled at DLA Piper (Canada) LLP. INVESTORS’ RIGHTS AGAINST FRAUDSTERS HAVE BEEN UPHELD. June…
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WORLD TAKE NOTICE: QUEBEC PROTECTS ITS RESIDENTS AGAINST MULTINATIONAL FRAUDSTERS
May 29, 2018. Morganti & Co teamed up Faguy & Cie (Montreal) to advance a shareholders’ claims against Volkswagen Aktiengesellschaft (“VWAG”). The claim alleges, see the VWAG’s guilty plea filed in the U.S. Federal District Court for the Eastern District of Michigan, that VWAG engaged in a global fraud concerning certain of its diesel engines…
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MORGANTI & CO. ADDS PRINCIPAL SECURITIES LITIGATOR
MAY 1, 2018. Albert Pelletier has joined Morganti & Co., P.C. as a principal. Albert has over two decades of professional experience between the Canadian securities industry and practice of law. He has worked as an Investment Advisor at Nesbitt Burns while in business school and graduated with distinction from McGill University Law School with…
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IF A COMPANY HIDES FRAUD FOR MORE THAN THREE YEARS IT IS REWARDED: WHY ARE INVESTORS BEING PUNISHED?
APRIL 5, 2018. The Ontario Court of Appeal upheld a lower court’s decision that under absolutely no circumstance can an Ontario statutory claim for secondary market liability exceed three years in length. Yes, really. In Kaynes v. BP PLC, 2018 ONCA 337, the investor alleged that BP PLC released documents containing misrepresentation about omitting material…
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U.S. SUPREME COURT: U.S. FEDERAL COURTS DO NOT HAVE EXCLUSIVE JURISDICTION OVER CERTAIN SECURITIES CLAIMS
March 20, 2018. One of the common arguments advanced by corporate defendants in shareholder litigation in provincial courts has been that the Canadian courts should not exercise their jurisdiction to adjudicate investors’ claims if the securities were purchased on the Nasdaq or NYSE. Often these lawyers will make submissions that Canadian courts should abstain from…
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FRAUDSTERS BEWARE: THE ONTARIO SECURITIES COMMISSION WILL SCRUTINIZE WHETHER THE DEFENDANT ADMITS TO ENGAGING IN WRONGFUL CONDUCT IN FOREIGN PROCEEDINGS.
On February 28, 2018, the Commissioner of the Ontario Securities Commission refused to rubber-stamp a settlement from a former chairman, chief executive officer, and president of a publicly traded company, MDC Partners, Inc. The allegations against the former executive were that he improperly received over $10 million for personal expenses and failed to disclose these…
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Investors seek certification of their fraud claim against Volkswagen AG
February 6, 2018. Quebec-based investors, represented by Morganti & Co. and Faguy & Co., made submissions to the court to exercise jurisdiction and certify the investor fraud claims against Volkswagen AG. The investors are seeking to represent other similarly situated investors that purchased Volkswagen AG’s securities on European and U.S. stock exchanges on the basis…
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Andrew Morganti hits the Airwaves
February 3, 2018. Wolfgang Klein of HiFi Radio with The Wolf on Bay Street (640 Toronto) invited Andrew Morganti to explain how his Firm helps investors get money back from bad investments against domestic and foreign companies.
Berger Montague (Canada) PC
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