Morganti & Co. Reminds Canadian Based Investors That Wayland Group Corp. Concedes to Accounting Errors and Sacks the Chief Executive Officer
TORONTO--(BUSINESS WIRE)--Sep 10, 2019--
Morganti & Co., P.C., a cross border shareholder’s rights law firm, is representing investors in a shareholder class action lawsuit against Wayland Group Corp. (“WAYL”)(formerly Maricann Group Inc.), seeking to recover money resulting from the drop in share price on October 1, 2018, February 21-22, and April 30, and, the ultimately halt of trading on May 6, 2019.
Wayland is a Canadian cannabis producer which at all times relevant to this action was in the process of expanding its main production facility in Langton, Ontario (i.e., the Langton Facility). Commencing January 26, 2018, WAYL represented that Phase One of the expansion project was fully funded and on schedule. Yet, during the Class Period, WAYL continuously delayed the completion date and required additional funding. Eventually, WAYL was unable to complete its 2018, Q1 and Q2 2019 financial statements. Its auditor resigned blaming its former CEO for causing problems, whom was subsequently discharged by the Board of Directors. WAYL’s securities are subject to a cease-trading order issued by the Ontario Securities Commission.
Investors that purchased WAYL’s securities between January 26, 2018 and May 6, 2019, may have an opportunity to recover their financial losses. Investors are encouraged to contact Morganti & Co. to register their interest and determine their financial losses, if any. Investors will not be charged for this service.
About Morganti & Co.
You may learn more about Morganti & Co. online at www.morgantico.com. Since June 1999, Mr. Morganti has represented investors and is licensed to provide legal opinions about the Ontario Securities Act and the U.S. federal securities laws.
You may contact Morganti & Co. at (647) 344-1900 or by email at firstname.lastname@example.org for further information. This press release may be considered attorney advertising in some jurisdictions under the applicable law and ethical rules.
View source version on businesswire.com:https://www.businesswire.com/news/home/20190910006011/en/
CONTACT: Morganti & Co.
Toronto + Detroit
Andrew Morganti, (248) 787-6078
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: LEGAL PROFESSIONAL SERVICES
SOURCE: Morganti & Co., P.C.
Copyright Business Wire 2019.
PUB: 09/10/2019 02:10 PM/DISC: 09/10/2019 02:11 PM