Canada Goose Holdings Inc. (TSX & NYSE: GOOS)
Ontario Superior Court of Justice, Court File No.: CV-20-00633971-00CP
Quebec Superior Court of Justice, Court File No.: 500-06-1038-203
This securities class action relates to the Defendant releasing core documents which contained untrue statements of material fact regarding how Canada Goose Holdings Inc. (“GOOS”) sourced its down and fur for its products.
Prior to October 2018, GOOS released statements alleging that:
We are committed to the sustainable and ethical sourcing of our raw materials. We have introduced comprehensive traceability programs for fur and down throughout our supply chain which we expect will be fully in effect during the spring 2017. We only use down that is a byproduct of the poultry industry and we only purchase down and fur from suppliers who adhere to our stringent standards regarding fair practices and humane treatment of animals.
On June 19, 2018, the United States Federal Trade Commission opened an investigation on GOOS for its advertising practices for possibly making false or misleading representations about the treatment of geese whose down is used in GOOS’ apparel.