Canopy Growth Securities Class Action (KPMG Partial Settlement)
Reviewed by Marty Mikhail, Barrister & Solicitor with Quinn Thiele Mineault Grodzki LLPLast verified How we verify
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About this claim
If you bought Canopy Growth securities between June 1, 2021 and June 22, 2023 and still held some of them at the close of trading on May 10, 2023 or June 22, 2023, you may be eligible for a share of a proposed $3,500,000 partial settlement with KPMG once it is approved and distributed.
See the questions the eligibility checker asks
The checker asks these questions. Use the Check Eligibility button to answer them and see a result.
- Did you acquire Canopy Growth Corporation securities on the secondary market (such as a stock exchange) between June 1, 2021 and June 22, 2023?The secondary market means buying shares from other investors, for example through a stock exchange, rather than directly from the company.
- Did you hold some or all of those securities until the close of trading on May 10, 2023 or June 22, 2023?
- Were you a resident of Canada when you acquired the securities, or did you acquire them on an exchange in Canada or another exchange located outside the United States?
- Are you one of the excluded persons, such as a person connected to the defendants?
Read more
Investors started a class action against Canopy Growth Corporation, two of its then-officers, and its former auditor KPMG LLP. The lawsuit claims that Canopy's disclosure documents and financial statements released between June 1, 2021 and June 22, 2023, including its audited financial statements for the fiscal year ended March 31, 2022, contained misrepresentations that harmed investors who bought the company's securities.
The plaintiff has reached a proposed partial settlement with KPMG only. If the court approves it, KPMG will pay $3,500,000 and the lawsuit against it will end, while the case continues against Canopy and the two officers. The money would be distributed to class members at a later date, once the case against the remaining defendants is concluded, under a distribution plan that the court must approve at that time. A court hearing to consider approving the settlement is scheduled for December 10, 2026 in Toronto.
Class Counsel
- KND Complex Litigation (All provinces and territories across Canada)
- Email[email protected]
- Websitehttps://knd.law/class-actions/canopy-growth-corp/
Proposed Settlement Documents
Opting out
The deadline to opt out was and has passed. Opting out is no longer available. Class members who did not opt out remain in the class and are bound by the outcome.
Objecting
The deadline to object is .
Objecting means staying in the class action but telling the court you disagree with something about the proposed settlement, such as the amount, the legal fees, or how the money is divided. The court considers objections when deciding whether to approve the settlement. Objecting is not the same as opting out: if you object, you remain a class member and are bound by the settlement if the court approves it.
To object to or comment on the settlement or class counsel's fee request, fill out the objection form and email it to [email protected]. It must be received by November 25, 2026 at 11:59 p.m. ET, and you may ask to participate in the December 10, 2026 approval hearing if the court permits.
Frequently Asked Questions
How much is the settlement and how much will I get?
KPMG has agreed to pay $3,500,000 to settle the claims against it, including legal fees, taxes, expenses, and interest. Individual amounts are not yet known; the money would be distributed to class members at a later date under a distribution plan the court must approve.
When will payments be made?
Not for some time. Class counsel will recommend that the settlement money be distributed once the class action against the remaining defendants (Canopy Growth and two of its officers) is concluded, together with any additional funds recovered from them.
What do I need to do right now?
Nothing. You do not have to do anything to stay in the class action and be entitled to benefits if the court approves the settlement. There is no claim form to file at this stage.
Can I object to or comment on the settlement?
Yes. You can fill out the form available at https://knd.law/class-actions/canopy-growth-corp/ and email it to class counsel at [email protected]. It must be received by November 25, 2026 at 11:59 p.m. ET, and you may ask to participate in the approval hearing on December 10, 2026.
Can I opt out of the class action?
The deadline to opt out was September 21, 2026 and has passed. Opting out is no longer available. Class members who did not opt out remain in the class and are bound by the outcome.
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