Canadians who invested in cannabis company Wayland Group Corp. could be eligible for compensation from an $8-million class-action settlement.
Law firm Berger Montague announced the approval of the settlement in a class-action lawsuit against Wayland Group Corp. (formerly Maricann Group Corp.), several former executives, and underwriters. The settlement was approved by the Ontario Superior Court of Justice on March 19.
According to court documents, the plaintiffs allege that between December 13, 2017 and August 2, 2019, the company made misrepresentations or failed to disclose the status of expansion plans for one of its growing facilities in Langton, Ontario, to convince investors to buy its stock.
Wayland Group Corp. eventually disclosed that information, but its stocks fell and the company was delisted. The defendants deny the allegations and any wrongdoing or liability.
Investors who purchased Wayland Group securities during the specified period may be eligible to file claims. Eligible Canadians will have until August 20, 2026, to submit a claim for compensation.
Source: Daily Hive
Photo: Daily Hive
