On June 16, 2021, the Ontario Superior Court of Justice granted the shareholder’s motion to grant leave to proceed with the statutory cause of action found at section 138.3 of the Ontario Securities Act; and on November 11, 2021, the Divisional Court denied XLY’s motion to appeal the leave to proceed order.
The shareholders’ dispute with Auxly concerns investor documents containing alleged misrepresentations of material fact about the status of the completion date for the renovations being made to the facility in Cobourg, Ontario (the “Facility”) pursuant to the agreement Auxly had with FSD Pharma, Inc. (“HUGE”), as well as misrepresentations Auxly made about the date for planting of first-harvest of cannabis at the Facility.
If you purchased Auxly’s securities after September 20, 2018, you are encouraged to register on our Firm’s informational page found here: https://morgantico.com/auxly-cannabis-group-inc/.
About Morganti & Co. You may learn more about Morganti & Co. online at www.morgantico.com. The Firm also represents investors in litigation against Aphria Inc. (TSX: “APHA”) and Wayland Group Corp. (formerly known as “Maricann”) (CSE: “WAYL”). Morganti & Co. also represented investors that purchased shares of FSD Pharma, Inc. that has since been resolved.
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Contacts
Morganti & Co., P.C.
Kristin Swenea
info@morgantico.com