CanniMed files $725 million lawsuit related to Aurora takeover bid

Canadian medical marijuana company CanniMed Therapeutics Inc said on Friday it filed a lawsuit alleging multiple claims of wrongdoing and seeking $725 million in damages related to Aurora Cannabis Inc`s 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.

TRENDING NOW

Oil prices fall on weak demand indicators, China data

Nykaa, Metro Brands, UltraTech Cement, IDBI Bank: Stocks to watch out for on Thursday

Dollar drifts near three-month low, focus on inflation data

Axis AMC eyes Rs 3 lakh crore AUM by March; expects Rs 2,500 crore from new fund

S&P 500 ends lower on mixed Fed messages, PCE on deck

Mizoram Election Results 2023: Check out date, time of counting of votes, result announcement of 40 Assembly seats

Google DeepMind AI reveals potential for thousands of new materials

PPF vs VPF vs ELLS Mutual Funds: Options that give you returns and tax benefits in your retirement planning

Power of Compounding: How your Rs 1.20 lakh can grow into Rs 62.15 lakh, know calculation

SBI Fixed Deposit (FD): How much return will you get on Rs 5 lakh investment in 1, 2, 3, 5 and 10 years?

CCI clears Emirates Telecommunications Group-Vodafone deal

12th Fail Box Office Collection: Vidhu Vinod Chopra-directed movie crosses Rs 50-crore barrier at domestic box office

Unemployment rate dips to 6.6% in September quarter: Govt Survey

LIC offers guaranteed return plan with the launch of Jeevan Utsav

iQOO 12 exclusive first look and key details ahead of December 12 launch

Aurora 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.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)