According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that:
- Champignon had undisclosed material weaknesses and insufficient financial controls;
- Champignon’s previously issued financial statements were false and unreliable;
- Champignon’s earlier reported financial statements would need to be restated;
- Champignon’s acquisitions involved an undisclosed related party;
- As a result of the foregoing and subsequent reporting delays and issues, the British Columbia Securities Commission would suspend Champignon’s from trading; and
- As a result, defendants’ statements about Champignon’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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