THORNTON GROUT FINNIGAN LLP AND ROCHON GENOVA LLP have together commenced a class action in Ontario on behalf of shareholders of CannTrust Holdings Inc. (TSX: TRST, NYSE: CTST) who acquired their CannTrust common shares between October 1, 2018 up to and including July 8, 2019. The class action seeks damages from CannTrust, certain of its officers and directors, and its auditors KPMG, arising out of alleged misrepresentations in CannTrust’s required public disclosure, including its 2018 audited annual financial statements.
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Joel P. Rochon, Managing Partner at Rochon Genova, said: “Accurate and timely public disclosure is the lifeblood of our capital markets. Investors are entitled to full, true and plain disclosure about Ontario reporting issuers. Proper disclosure levels the playing field among all investors and enables them to make informed decisions.”
John L. Finnigan, Founding Partner at Thornton Grout Finnigan, said: “The integrity of our capital markets depends upon timely and accurate corporate disclosure. Gatekeepers, such as auditors, play a critical role in protecting investors; and this is particularly so when dealing with a nascent industry like cannabis.”