CanniMed files $725 mln lawsuit related to Aurora takeover bid
Published Jan 12, 2018 20:23
CanniMed files $725 mln lawsuit related to Aurora takeover bid
Jan 12 (Reuters) - Canadian medical marijuana company CanniMed Therapeutics Inc CMED.TO said on Friday it filed a lawsuit alleging multiple claims of wrongdoing and seeking $725 million in damages related to Aurora Cannabis Inc's ACB.TO hostile takeover bid.
The lawsuit, filed in the Ontario Superior Court of Justice, alleges breach of confidentiality, intentional interference with economic relations, conversion, breach of contract and other allegations pursuant to the Securities Act (Ontario), CanniMed said in a statement.
Aurora launched a hostile takeover bid for CanniMed in November. was not available to comment on the lawsuit outside regular business hours.
CanniMed alleges that Aurora, several shareholders, one current and one former board member participated in a "civil conspiracy" intended to injure the economic interests of CanniMed.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.