Alberta Cannabis Producer Sundial Targeted in Class Action Suit
Calgary-based licensed cannabis producer Sundial Growers failed to disclose its products’ contamination problems prior to going public on the stock market, a class-action lawsuit contends.
A complaint filed Sept. 25 under the name of plaintiff and company investor Yimin Huang said that defendants, including board member and former University of Calgary president Elizabeth Cannon, were in New York City on Aug. 1 to mark the company’s shares being listed on the NASDAQ.
“The registration statement represented that Sundial was a producer of ‘high-quality cannabis in small batches’ and that ‘we produce high-quality, consistent cannabis’ and that the Company’s operating model results in ‘strong customer loyalty,’ ” reads the complaint.
– Read the entire article at Calgary Herald.