Judge: Investor Claims Against Canadian Cannabis Producer Fail Under Morrison

Mealey's (September 2, 2021, 2:37 PM EDT) -- NEW YORK — Dismissal of claims brought by shareholders of a Canada-based cannabis company and others stemming from the defendants’ alleged misrepresentations regarding financing arrangements the company made with a lender is warranted because the shareholders failed to show that their claims meet the requirements set forth by the U.S. Supreme Court in Morrison v. National Australia Bank Ltd. for showing whether the investors’ stock purchases were sufficiently domestic, a federal judge in New York ruled Aug. 31 in dismissing without prejudice....