Securities Litigation Archives • Morganti & Co, PC

Wayland Group Corp. (f/k/a, Maricann): Quebec Court Quick to Protect Québécois Investors

(May 5, 2022) Wayland Group Corp., (“WAYL”) filed papers seeking bankruptcy protection and it was liquidated by selling assets for pennies on the dollar ~ and back to the same sellers! Investors lost. The Court approved and issued a “Stay of Litigation” so that investors could not advance their claims for damages. On February 28,…

Ontario Division Court unanimously agrees to allow investors’ claims to advance against Auxly Cannabis Group, Inc.

(November 2, 2021) The Ontario Superior Court of Justice – Divisional Court (Justices Swinton, Sachs, and Favreau), 2021 ONSC 7117, have allowed the investor claims against Auxly Cannabis Group, Inc. to proceed forward into discovery and trial by denying the appeal of Justice Morgan’s straight-forward (tell-it-how-it-is) decision granting investors leave to proceed with a statutory…

U.S. Securities and Exchange Commission Warns Investors investing in China-based companies

(July 30, 2021) The U.S. Securities and Exchange Commission (“SEC”) has identified a number of China-based companies raising capital through offshore shell companies. In a number sectors in China, companies are not allowed to have foreign ownership and cannot directly list on stock exchanges outside of China. Some of these companies have gotten around the…

Investment Banks’ Responsibilities: Court of Appeal for Ontario endorses claim

(June 17, 2020) Today the Court of Appeal for Ontario (MacPerson, Pardu and Huscroft JJ.) released an Endorsement affirming the Divisional Court’s decision, dated January 6, 2020, concerning the responsibilities of investment banks and certifying that offering memoranda and prospectuses contain accurate information, to the best of their knowledge. Today’s decision affirms the reversal the…

Appellant Court confirms that Underwriters have a duty of care to investors

(January 6, 2020) Ontario’s Divisional Court (Backhouse, D.L. Corbett, and Myers JJ.) released an important decision concerning the role of class proceeding claims in providing access to justice for investors against investment banks. Today’s decision reverses the motion court’s October 24, 2017 decision declining to certify a common law claim against underwriters Cormark Securities Inc….

Securities Litigation

Tag: Securities Litigation

Wayland Group Corp. (f/k/a, Maricann): Quebec Court Quick to Protect Québécois Investors

Ontario Division Court unanimously agrees to allow investors’ claims to advance against Auxly Cannabis Group, Inc.

U.S. Securities and Exchange Commission Warns Investors investing in China-based companies

Investment Banks’ Responsibilities: Court of Appeal for Ontario endorses claim

Appellant Court confirms that Underwriters have a duty of care to investors

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