Legal Proceedings.
−Removed: 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.
−Removed: District Court for the District of New Jersey (the “Court”).
−Removed: 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 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.
−Removed: On June 14, 2021, the plaintiffs filed their third amended complaint.
−Removed: Defendants filed their motion to dismiss the third amended complaint on August 16, 2021.
−Removed: Pursuant to documents filed with the Court on February 4, 2022, the Company has reached an agreement to settle the class action.
+Added: In November 2019, the Company and certain of its current and former executives 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") captioned Ortiz v.
+Added: Canopy Growth Corporation et al., No.
+Added: 2:19-cv-20543-KM-ESK.
+Added: The plaintiffs alleged 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.
+Added: Pursuant to documents filed with the Court on February 4, 2022, the Company reached an agreement to settle the class action.
The agreement does not constitute any admission of liability or wrongdoing by the Company or its executives.
The agreement expressly provides that the Company denies any misconduct or wrongdoing.
−Removed: Preliminary approval of the settlement has been granted by the Court.
−Removed: The agreement is subject to approval by the Court and to other terms.
+Added: The agreement was subject to approval by the Court and other terms.
+Added: On February 7, 2022, Judge McNulty granted an order preliminarily approving the settlement.
+Added: The Court approved the plaintiff’s motion for final approval of the settlement on June 7, 2022.
+Added: Risk Factors.
+Added: 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.
+Added: There have been no material changes to the risk factors previously disclosed in Part I, Item 1A in our Annual Report.
+Added: Unregistered Sales of Equity Securities and Use of Proceeds.
+Added: Defaults Upon Senior Securities.
+Added: Mine Safety Disclosures.
+Added: Not applicable.
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.