 Important Updates

FAQS

 

1. What is this case about?

2. What does the settlement provide?

3. Why did I get the Notice?

4. Are there exceptions to being included in the settlement?

5. What are the CUSIP (Committee on Uniform Security Identification Procedures) and Ticker symbols for CannTrust common stock?

6. What do I need to do if I want to opt out of the settlement?

7. What do I need to do if I want to object to the settlement?

8. Do I have a lawyer in the case?

 

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1. What is this case about?

 

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.

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2. What does the settlement provide?

 

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.

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3. Why did I get the Notice?

 

The Court authorized that notice be sent to putative Class Members. You may have acquired securities of iAnthus Capital Holdings Inc. (“iAnthus”) during the period from May 14, 2018 to and including April 5, 2020.

 

Receipt of a Notice does not mean that you are a Class Member, or that you will be entitled to receive payment. The Parties do not have access to your individual investment information. If you wish to be eligible for payment, you are required to submit the Claim Form no later than the Claims Bar Deadline if the settlement approved.

 

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

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4. Are there exceptions to being included in the settlement?

 

Yes. There are some individuals and entities who are excluded by definition from recovering from the settlement.

 

The following are Excluded Persons:

 

Excluded Persons means IAN’s subsidiaries, affiliates, officers, directors, senior employees, and their

respective legal representatives, heirs, predecessors, successors and assigns, as well as any member

of the Individual Defendants’ immediate families, and any entity in which any of the foregoing has or had

any legal or de facto controlling interest during the Class Period.

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5. What are the CUSIP (Committee on Uniform Security Identification Procedures) and Ticker symbols for iAnthus common stock?

 

The nine-digit, alphanumeric CUSIP number that is used to identify iAnthus common stock is 45074T102. During and prior to the class period, IAN’s securities were listed on and publicly traded on the CSE under the ticker symbol “IAN”, under ticker symbol “ITHUF” on the U.S. over-the-counter market, and under ticker symbol “2IA” on the Frankfurt Stock Exchange.

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6. What do I need to do if I want to opt-out of the settlement?

 

All Class Members will be bound by the terms of the Agreement, unless they opt-out. If you opt-out of the proposed settlement you may pursue your own action with your own lawyer at your own expense. A copy of the long-form notice providing greater detail about the settlement, including about Class Counsel’s fees that will be requested of the Court, your right to oppose the settlement, the hearing of the motion to approve the settlement, and the right to opt-out is available here. The Opt-Out Form must be received by the Administrator via email on or before February 18, 2024 by 11:59 pm EST to be valid.

 

The Opt-Out Form can be downloaded here.

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7. What do I need to do if I want to object to the settlement?

 

Any Class Member may participate in the Approval Hearing to object to the Agreement or comment on the Agreement or Class Counsel’s request for fees, expenses or honorarium. If they intend to do so, they are asked to email any objections or comments to Class Counsel at info@MSinghLaw.ca no later than January 31, 2024.

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8. Do I have a lawyer in the case?

 

The Court appointed the law firm M. Singh Law Professional Corporation to represent the Class. This firm is called Class Counsel. Class Counsel is tasked with acting in the best interests of the Class as a whole.

 

Click here for Class Counsel’s contact information.