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CanniMed files $725 mln lawsuit related to Aurora takeover bid

Stock MarketsJan 12, 2018 20:30
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© Reuters. CanniMed files $725 mln lawsuit related to Aurora takeover bid

Jan 12 (Reuters) - Canadian medical marijuana company CanniMed Therapeutics Inc CMED.TO said on Friday it filed a lawsuit alleging multiple claims of wrongdoing and seeking $725 million in damages related to Aurora Cannabis Inc's ACB.TO hostile takeover bid.

The lawsuit, filed in the Ontario Superior Court of Justice, alleges breach of confidentiality, intentional interference with economic relations, conversion, breach of contract and other allegations pursuant to the Securities Act (Ontario), CanniMed said in a statement.

Aurora launched a hostile takeover bid for CanniMed in November. was not available to comment on the lawsuit outside regular business hours.

CanniMed alleges that Aurora, several shareholders, one current and one former board member participated in a "civil conspiracy" intended to injure the economic interests of CanniMed.

CanniMed files $725 mln lawsuit related to Aurora takeover bid
 

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Jon Doe
Jon Doe Jan 14, 2018 10:31
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ya it's a losing battle...cannimed just wants to cry wolf...but aurora approached the whole thing legally and they're fine
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Ahthesham Sheikh Mohammed
Ahthesham Sheikh Mohammed Jan 13, 2018 14:32
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Well this will have to be proven in the courts. If Aurora indeeed screwed up. This may be troublesome..
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Tony Aoude
Tony Aoude Jan 13, 2018 7:16
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From my understanding some of canmed share holders approach aurora Directly to buy them up . So I don't understand what are they suing for
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