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REGINA, Saskatchewan, July 29, 2019 (GLOBE NEWSWIRE) — Merchant Law Group LLP (www.merchantlaw.com) a national class action litigation firm, is investigating whether CannTrust Holdings Inc. (TRST.TO) and certain of its officers and directors violated provincial securities laws.
On July 8, 2019, CannTrust issued a press release revealing that Health Canada had discovered during an audit that CannTrust had been growing cannabis in five unlicensed rooms at its Niagara Facility over a six-month period and had provided misleading information to the regulator. CannTrust also announced that Health Canada had placed a hold on a significant quantity of CannTrust’s cannabis inventory, and that CannTrust had placed a voluntary hold on additional inventory as Health Canada investigated just how far CannTrust’s wrongdoing extended.
On July 15, 2019, an article by BNN Bloomberg summarized the potential fall out: “At least nine analysts have lowered their price target or downgraded their rating on CannTrust since the initial disclosure last Monday, and the company’s shares lost almost half their value last week.” According to the report, one analyst, Mackie Research Capital Corp., had gone so far as to “terminate coverage of CannTrust,” saying “‘we have lost faith in management’ amid uncertainty about the company’s future after recent regulatory infractions.”
On July 24, 2019, the Financial Post published an article titled, “CannTrust promo video showed CEO standing in front of unlicensed room, former employees claim.”
Merchant Law Group LLP is investigating these allegations in order to file a class action lawsuit in Canada. If you have purchased or otherwise acquired CannTrust securities and have questions about your legal rights, or possess information relevant to this investigation, you may be entitled to compensation and are encouraged to contact Tony Merchant at (888) 567-7777, or by email at [email protected].
Merchant Law Group LLP has 10 offices across Canada, with lawyers practising law in six provinces. Merchant Law Group LLP and Tony Merchant Q.C. are well known for pursuing class action lawsuits in Canada including litigation regarding Winners/HomeSense, Various Cellular Phone Fees, BCE Dividends, GM Gasket Manifolds, Hip Implants, Lead Paint in Toys (and similar consumer products), Maple Leaf, Celebrex/Bextra, Vioxx, Sony, Residential Schools and various other cases. Tony Merchant, Q.C. is known to be one of Canada’s most active litigators with more than 600 reported cases in leading Caselaw Journals, having argued thousands of cases before the Canadian and American Courts, in Trial and Administrative Courts, and the Courts of Appeal of various American and Canadian jurisdictions, the Federal Court of Canada, and the Supreme Court of Canada. Tony Merchant, Q.C., has a long history in pursuing public policy cases and is a former Member of the Legislative Assembly (M.L.A.).
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Merchant Law Group LLP
(888) 567-7777 phone
2401 Saskatchewan Drive
SOURCE Merchant Law Group LLP