The lawsuit contends Adastra violated the B.C. Securities Act by making ‘inaccurate public representations’ that artificially boosted the company’s stock price
A Vancouver-based law firm says it has filed a proposed securities class-action lawsuit on behalf of anyone who acquired shares in a B.C. company that recently announced plans to commercialize cocaine.
The company revised the statement on March 3 after both Premier David Eby and Prime Minister Justin Trudeau expressed astonishment about those plans, which stemmed from Adastra’s mid-February licence amendment to produce, sell and distribute cocaine. The lawsuit, which contains allegations that have not been proven in court, contends Adastra and Forbes violated the B.C. Securities Act by making “inaccurate public representations” that artificially boosted the company’s stock price.
Saro Turner, a partner at Slater Vecchio LLP, the firm behind the proposed class action, says investors deserve compensation.
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