fbpx

CannTrust Securities False Statements Settlement

Settlement Structure: Claims Made

Active: Open

Case Summary:

CannTrust Holdings, Inc. and other parties are settling class actions in Canada and the US alleging the company made false and misleading statements in its offering documents, about its compliance with cannabis regulations and due to an alleged scheme to increase its cannabis production. The complaint alleged that the statements caused the price of CannTrust’s common stock, publicly traded on the Toronto Stock Exchange and New York Stock Exchange, to be artificially inflated and then to fall when the truth was revealed.

This settlement includes all defendants in the original class action(s) except for CannTrust’s auditors, KPMG, LLP.

Docket Number:

1:19-cv-06396-JPO

Company: CannTrust Holdings, Inc.

Filing Deadline: March 16, 2022

Class Period: June 1, 2018 to March 31, 2020

Objection Deadline: November 11, 2021

Exclusion Deadline: November 11, 2021

Final Approval Hearing: December 2, 2021

Proof of Purchase:

You must provide proof of your securities trades.

Eligibility:

You may be eligible if you are

- A person or entity that bought the publicly-traded common stock of CannTrust Holdings, Inc. on the New York Stock Exchange (NYSE) or any US-based trading platform between June 1, 2018 and March 31, 2020, or
- A person or entity that bought or otherwise acquired CannTrust Holdings, Inc. common stock pursuant or traceable to the offering materials (as defined in the complaint) issued in connection with the secondary public offering completed on or about May 6, 2019.

If you are not a member of these US classes, you may be a member of the Canadian and Non-US Securities Claimant class. For details, see the Notice at https://www.canntrustsecuritiessettlement.ca/docs/en/Long%20Form%20Notice.pdf.

Typical Settlement Amount:

The recovery is estimated to be an average of 27 Canadian cents per share minus such things as attorneys’ fees and expenses, taxes, and other such costs or 20 Canadian cents per share minus attorneys fees. Final amount will depend on a number of factors and may be more or less than this estimated amount.

Total Settlement Amount: C$83,000,000 (US$66,400,000)

Class Representative Proposed Incentive Fee:

Unknown

Law Firms:
Labaton Sucharow LLP
Levi & Korsinsky LLP

Claim Form: CannTrust Securities Settlements Claim Form

Case Name: In Re: CannTrust Holdings Inc. Securities Litigation

Settlement Website: CannTrust Securities Settlements Website

Claims Administrator:
Epiq Class Action & Claims Solutions, Inc.

Claims Administrator Contact Information:

Epiq Class Action Services Canada Inc.
Attention: CannTrust Securities Settlements Claims Administrator
P.O. Box 507 STN B
Ottawa ON K1P 5P6
info@CannTrustSecuritiesSettlement.ca
833-871-5359

Tags: Misrepresentations or False Statements, Registration Statement, Securities