2018 began with a bang in the Canadian cannabis industry.
After the markets closed this past Friday, January 12, 2018, CanniMed Therapeutics Inc. (“CanniMed”), announced that it had commenced a lawsuit against Aurora Cannabis Inc. (“Aurora”) and a number of large CanniMed shareholders.
In the announcement, CanniMed indicated that the claim was for $725 million in damages resulting from the defendants’ (alleged) “unlawful actions that have negatively affected the appreciation of the value of common shares of CanniMed and prevented CanniMed from pursuing alternative change of control transactions for the benefit of the CanniMed shareholders.”
While the press release contained . . . [more]