Legal Proceedings.
−Removed: As previously disclosed in the Annual Report, in November 2019, the Corporation and certain of its current and former officers were named as defendants in three purported class action claims filed in the U.S.
−Removed: District Court (the “Court”);
−Removed: two of these complaints have since been dismissed.
+Added: As previously disclosed in the Annual Report, in November 2019, the Company and certain of its current and former officers were named as defendants in a purported class action lawsuit filed in the U.S.
+Added: District Court for the District of New Jersey (the “Court”).
The plaintiffs allege that the defendants made false and/or misleading statements and/or failed to disclose material adverse facts, regarding Canopy Growth’s receivables, business, operations and prospects relating to, among other things, the demand for its softgel and oil products.
−Removed: In addition, as previously disclosed, in November 2020, the defendants moved to dismiss the plaintiff’s second amended complaint and on May 6, 2021, U.S.
−Removed: District Court Judge McNulty granted the defendant’s motion to dismiss, without prejudice to the plaintiffs filing a third amended complaint with the Court within 30 days.
+Added: In November 2020, the defendants moved to dismiss the plaintiff’s second amended complaint and on May 6, 2021, the Court granted the defendant’s motion to dismiss, without prejudice to the plaintiffs filing a third amended complaint with the Court within 30 days.
On June 14, 2021, the plaintiffs filed their third amended complaint.
Defendants filed their motion to dismiss the third amended complaint on August 16, 2021.
−Removed: The motion will not be fully briefed until at least November 24, 2021.
−Removed: Risk Factors.
−Removed: For information regarding factors that could affect our results of operations, financial condition and liquidity, see the risk factors discussed in Part I, Item 1A in our Annual Report.
−Removed: There have been no material changes to the risk factors previously disclosed in Part I, Item 1A in our Annual Report.
−Removed: Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: Defaults Upon Senior Securities.
−Removed: Mine Safety Disclosures.
−Removed: Not applicable.
+Added: Pursuant to documents filed with the Court on February 4, 2022, the Company has reached an agreement to settle the class action.
+Added: The agreement does not constitute any admission of liability or wrongdoing by the Company or its executives.
+Added: The agreement expressly provides that the Company denies any misconduct or wrongdoing.
+Added: Preliminary approval of the settlement has been granted by the Court.
+Added: The agreement is subject to approval by the Court and to other terms.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.