Pot Co. Canopy Growth Settles Investor Suit For $13M
By Sarah Jarvis (February 7, 2022, 6:54 PM EST) -- Pot company Canopy Growth Corp. has reached a $13 million settlement with a class of investors who say it misled them about the strength of the Canadian cannabis market, according to a court filing urging a New Jersey federal court to give its initial approval of the deal.
In a Friday memorandum supporting their unopposed motion for preliminary approval of the settlement, the investors called the deal "fair, reasonable, and adequate" in light of the risks of continued litigation, which would require them to prove falsity, materiality, scienter, loss causation and damages. Canopy denies any liability or wrongdoing, per the memo....
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