 Important Updates

iAnthus Capital Holdings Inc. Securities Class Action Settlement

 

If you are a person or entity, other than an “Excluded Person”, who acquired securities of iAnthus Capital Holdings Inc. (“iAnthus”) during the period from May 14, 2018 to and including April 5, 2020, and who held some or all of those securities at the close of trading on April 5, 2020 (defined as the “Class”), you may be entitled to a payment from this settlement.

 

Overview

 

In 2020, a proposed securities class action was commenced against iAnthus and two of its former officers in the Ontario Superior Court of Justice. It is alleged that during the period from May 14, 2018 to and including April 5, 2020, the Defendants made misrepresentations or omissions regarding iAnthus (whether contained in a public document or in an oral statement), or permitted or acquiesced in such misrepresentation(s) and/or omission(s). The parties have reached a proposed settlement of the class action, which is subject to approval by the Court. The Defendants do not admit any wrongdoing or liability.

 

Under the Agreement, the Defendants will pay or cause to be paid CAD $500,000 (the “Settlement Amount”) in full and final settlement of all claims against them, including Class Counsel’s fees and disbursements, any approved honorarium, administrative expenses, applicable taxes and interest, in exchange for a full release and a dismissal of the class action.

 

The Approval Hearing shall take place on February 20, 2024 via Zoom video-conferencing.

 

All Class Members will be bound by the terms of the Agreement unless they opt-out of the action. Class Members can opt-out of the proposed settlement and pursue their own action with their own lawyer at their own expense.

 

Who is eligible for compensation from the settlement?

 

All persons, other than “Excluded Persons”, who acquired securities of iAnthus Capital Holdings Inc. (“iAnthus”) during the period from May 14, 2018 to and including April 5, 2020, and who held some or all of those securities at the close of trading on April 5, 2020 (defined as the “Class”).

 

Your Options:

 

Do Nothing
You do not have to do anything to stay in the class action. If the Court approves the Agreement, it will be distributed according to the terms. You will be legally bound by all orders and judgments of the Court. You will not be able to sue the Defendants regarding the legal claims made in this case.

 

More information will be added to this website about the claims process if the settlement is approved.

 

Object to the Agreement or Class Counsel’s Fees and Expenses

If you want to object to the proposed Agreement or to the payment of Class Counsel’s fees and expenses, you should do so by setting out your objection in an email addressed to Class Counsel at Info@MSinghLaw.ca by no later than January 31, 2024.

 

Click here for more information.

 

Opt-Out of the Class Action

All Class Members will be bound by the terms of the Agreement unless they opt-out. Any Class Member who wishes to opt-out of the class action must deliver a completed Opt-Out Form via email to the Administrator by no later than February 18, 2024 at 11:59 pm EST to be valid.

 

The Opt-Out Form is available here or by emailing the Administrator.

 

Click here for more information.

 

We recommend you take a few minutes to view the FAQ section for further details about the settlement to fully understand your rights.