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 only high level details, the
28 page Statement of Claim provides a very detailed account of
the background leading up to the proposed CanniMed –
Newstrike transaction and how certain CanniMed shareholders
and Directors allegedly breached confidentiality and fiduciary
duties and "hijacked" the board's process in order
to kill the CanniMed – Newstrike
