TORONTO--(BUSINESS WIRE)--Morganti & Co., P.C.:
This Notice is directed to:
All persons, other than Excluded Persons, who acquired Auxly's securities between November 12, 2018 and February 6, 2019, and held some or all of those securities after February 6, 2019.
On January 18, 2023, the Honourable Justice Morgan of the Ontario Superior Court of Justice certified the action: Relvas v. Auxly Cannabis Group, Inc., Court File No.: CV-13-00617136-00CP (the “Class Action”) as a class proceeding against Auxly Cannabis Group, Inc. and appointed Daniel Relvas as the representative plaintiff. The substance of the litigation has not been adjudicated by the Court (i.e. that the Defendant made misrepresentations in its Management’s Discussion and Analysis and corresponding financial statement for the Three and Nine Months Ended September 30, 2018 on November 12, 2018, that were not publicly corrected until a news release on February 7, 2019). The Defendant denies the allegations.
YOUR TWO OPTIONS:
1. Do Nothing and Remain in the Class Action:
Class Members are automatically included in the action once certified if they do not opt-out. You do not need to do anything at this time to stay in the Class Action. If a settlement or any recovery or benefits are achieved for the Class and approved by the Court, you will be notified about how to ask for the portion to which you are entitled. You will be legally bound by all orders and judgments of the Court, and you will not be able to sue the Defendant on your own regarding the legal claims made in this case. You will NOT be required to pay any costs in the event that this Class Action is unsuccessful.
2. Opt-Out of the Class Action:
All Class Members will be bound by all orders and judgments of the Court and any settlement reached unless they opt-out of the action. If you wish to pursue your own action or do not want to be bound by the outcome of the Class Action, you then must opt-out of this Class Action and act prior to the expiration of the limitation periods.
If you want to opt-out of the Class Action, you must fill out an Opt-Out Form (available at www.morgantico.com) and send it BEFORE MARCH 31, 2023 AT 5:00 PM (EST), by email to info@morgantico.com or by regular mail or courier to at:
Morganti & Co., P.C.
c/o Auxly Cannabis Group Inc. Class Action
330 Bay Street, Suite 1302
Toronto, ON M5H 2S8
A copy of the long-form notice providing greater detail about the certification and your right to opt-out of the action is available at http://www.morgantico.com.
The publication of this notice was authorized by the Ontario Superior Court of Justice. Questions about this notice should NOT be directed to the Court.