{"settlement":{"id":"wayland-group-securities-2026","slug":"wayland-group-securities-2026","title":"Wayland Group (Maricann) Securities Class Action","category":"Investment and Securities","status":"Claims closing soon","tags":{"industry":["Securities and investments"],"geographic":["Canada-wide"],"recoveryType":["Cash payment"],"documentation":["Account records required"],"eligibilityTrigger":["Owned a security or investment"]},"classDefinition":"All persons and entities, other than Excluded Persons, wherever they may reside or be domiciled, who purchased or otherwise acquired common shares, units and warrants of Wayland Group Corp. and Maricann Group Corp. on or after December 13, 2017 and held some or all of those securities as of the close of trading on August 2, 2019.","plainLanguageSummary":"If you bought Wayland Group or Maricann Group shares, units or warrants on or after December 13, 2017 and still held some of them at the close of trading on August 2, 2019, you may be eligible for a cash payment from an $8 million settlement fund.","eligibilityCriteria":["You purchased or acquired common shares, units or warrants of Wayland Group Corp. or Maricann Group Inc. on or after December 13, 2017.","You held some or all of those securities as of the close of trading on August 2, 2019.","You are not a defendant in the actions, a family member of a defendant, or a business in which a defendant has a financial interest.","You did not opt out of the class action."],"recoveryRange":"Share of an $8 million settlement fund based on the number and timing of your qualified securities","filingInstructions":"Gather your bank or brokerage statements showing how many Wayland or Maricann securities you purchased during the class period and how long you held them.\nGo to the online claims system at https://www.nuvoclaims.com/en/our-settlements/wayland-group and select Submit claim.\nComplete the Claim Form, identifying all of your qualified securities.\nUpload your supporting documents with the Claim Form.\nSubmit your claim so it is received no later than September 30, 2026.","caseBackground":"Wayland Group Corp., a cannabis company formerly known as Maricann Group Inc., was sued in three related shareholder class actions in Ontario. Investors alleged that the company, certain officers and directors, and its underwriters made misrepresentations or failed to disclose material facts about Wayland, its operations and financial status, including matters connected to its production facility in Langton, Ontario and its Chief Executive Officer. The defendants deny the allegations and any wrongdoing or liability.\n\nThe parties reached a settlement under which the settling defendants will pay 8 million dollars Canadian to resolve the claims. The Ontario Superior Court of Justice approved the settlement on March 19, 2026. After court-approved legal fees, administration expenses and taxes are deducted, the remaining fund will be distributed to eligible investors who file a claim, based on the number and timing of the securities they held.","administratorName":"Berger Montague PC","administratorContacts":[{"type":"phone","label":"","value":"(647) 576-7840"},{"type":"email","label":"","value":"Canadainfo@bergermontague.com"},{"type":"mail","label":"","value":"Berger Montague (Canada) PC, 330 Bay Street, Suite 505, Toronto, ON M5H 2S8"},{"type":"online","label":"","value":"https://www.nuvoclaims.com/en/our-settlements/wayland-group"}],"agentName":"","agentContacts":[],"agentClaimFormHelp":false,"classCounselName":"Berger Montague PC","classCounselContacts":[{"type":"phone","label":"","value":"(647) 576-7840"},{"type":"email","label":"","value":"Canadainfo@bergermontague.com"},{"type":"mail","label":"","value":"330 Bay Street, Suite 505, Toronto, ON M5H 2S8"}],"classCounselFirms":[{"name":"Berger Montague PC","region":"","contacts":[{"type":"phone","label":"","value":"(647) 576-7840"},{"type":"email","label":"","value":"Canadainfo@bergermontague.com"},{"type":"mail","label":"","value":"330 Bay Street, Suite 505, Toronto, ON M5H 2S8"}]}],"submissionMethods":[{"type":"online","label":"Online Claims System","value":"https://www.nuvoclaims.com/en/our-settlements/wayland-group"}],"sourceDocuments":[{"url":"/uploads/1ce17b1800b728dc5820e131-Notice-of-Settlement-Approval.pdf","title":"Notice to Class Members"},{"url":"/uploads/42bb3e2edfb5d71a274eb628-Wayland-Group-Plan-of-Allocation.pdf","title":"Additional Settlement Document"}],"shortFormNoticeUrl":"","longFormNoticeUrl":"/uploads/1ce17b1800b728dc5820e131-Notice-of-Settlement-Approval.pdf","settlementAgreementUrl":"","claimFormDocumentUrl":"","claimForms":[],"claimFormsButtonLabel":"claim-form","claimFormsUnavailable":true,"claimFormsUnavailableReason":"The administrator requires claims to be filed online through its claims portal at the following website: https://www.nuvoclaims.com/en/our-settlements/wayland-group","claimFormGuides":[],"optOutFormUrl":"","optOutInstructions":"","objectionFormUrl":"","objectionInstructions":"","faqs":[{"answer":"Completed Claim Forms must be submitted to the Administrator no later than September 30, 2026. The deadline was extended from the original date of August 20, 2026.","question":"What is the deadline to file a claim?"},{"answer":"Payments depend on how many qualified securities you held and when you bought and sold them. Each eligible claimant receives a pro rata share of the compensation fund, calculated by multiplying their qualified securities by the damages per qualified security. Shares are assigned maximum recovery values of $0.17, $0.74 or $0.03 per share depending on the purchase and sale dates. No payment is issued for amounts under $100.","question":"How much money can I receive?"},{"answer":"You must submit copies of bank or brokerage statements, or other proof acceptable to the Administrator, showing how many Wayland or Maricann securities you purchased during the class period and how long you held them. Claim Forms without the required supporting documents will not be accepted.","question":"What proof do I need to submit?"},{"answer":"After the claims deadline passes and the review process is complete, the Administrator will ask the court for authorization to distribute the fund. Payments will be made in Canadian dollars by e-transfer, bank transfer or cheque. You must deposit a cheque or accept a transfer within 45 days or you forfeit your payment.","question":"When and how will I be paid?"},{"answer":"You can ask for a review by an independent Referee by delivering a written election for review to the Administrator within 15 days of receiving the decision, along with a certified cheque or money order for $150. The deposit is returned if the Referee changes the decision in your favour.","question":"What if I disagree with the Administrator's decision on my claim?"}],"eligibilityChecker":{"questions":[{"id":"purchased-securities","text":"Did you purchase or acquire common shares, units or warrants of Wayland Group Corp. or Maricann Group Inc. on or after December 13, 2017?","type":"yes_no","helpText":"Wayland Group Corp. was known as Maricann Group Inc. until January 7, 2019, and traded under the symbols MARI and WAYL.","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"held-through-aug-2019","text":"Did you still hold some or all of those securities at the close of trading on August 2, 2019?","type":"yes_no","qualifyingAnswer":"yes","criticalForEligibility":true},{"id":"excluded-person","text":"Are you one of the settling defendants, a family member of one, or a business in which a settling defendant has a financial interest?","type":"yes_no","qualifyingAnswer":"no","criticalForEligibility":true},{"id":"has-documentation","text":"Can you provide bank or brokerage statements showing your purchases of these securities during the class period?","type":"yes_no","helpText":"Supporting documents are required for a claim to be accepted.","qualifyingAnswer":"yes","criticalForEligibility":true}],"uncertainMessage":"Some of your answers were Not sure, so we could not confidently determine your eligibility.","qualifyingMessage":"Based on your answers, you appear to fall within the class definition for this settlement.","nonQualifyingMessage":"Based on your answers, you do not appear to fall within the class definition for this settlement."},"claimCategories":[],"proceedings":null,"relatedSlugs":[],"group":null,"cardSummary":"If you bought Wayland Group or Maricann shares, units or warrants between December 2017 and August 2019 and held them through August 2, 2019, you may be able to claim from an $8 million settlement.","proofRequired":"","claimTime":"","claimAmount":"","coverageStartDate":"2017-12-13","coverageEndDate":"2019-08-02","deadline":"2026-09-30","optOutDeadline":"","objectionDeadline":"","approvalHearingDate":"","approvalHearingDates":[],"approvalPending":false,"dateAdded":"2026-09-23","lastUpdated":"2026-09-23","firstPublishedAt":"2026-09-23 23:29:51","claimsOpenedAt":"2026-09-23 23:29:51","lastVerifiedAt":"2026-09-23","languages":["en","fr"]}}