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360 DigiTech, Inc. Securities Fraud Investigation
Investigation Deadline: December 1, 2023
April 30, 2026
Canada News
Berger Montague Secures Key Appellate Victory in Aurora Cannabis Securities Class Action
TORONTO, CANADA – Berger Montague, a leading national plaintiff law firm, announced a significant appellate win in a high-profile securities class action involving Aurora Cannabis Inc. (TSX: ACB), as the Alberta Court of Appeal dismissed the company’s attempt to strike the plaintiffs’ claims.
The decision allows the proposed class action—alleging misrepresentations to investors regarding Aurora’s financial performance—to proceed, reinforcing investors’ ability to pursue claims tied to secondary market disclosures.
“All of the claims against Aurora are continuing forward,” said Shareholder and CEO of Berger Montague (Canada) PC, Albert Pelletier. “The Court of Appeal has confirmed that the validity of investors’ statutory and common law claims ought to be determined at the certification or permission to proceed phase.”
The Court of Appeal further held that it is not plain and obvious that the claim for negligent misrepresentation for investors who purchased securities before the date of the first alleged misrepresentation is bound to fail.
The case, Landry v. Aurora Cannabis, Inc., centres on allegations that Aurora and certain former executives misrepresented the company’s financial outlook in 2019, followed by disclosures that revealed materially worse performance and triggered sharp declines in share price. The Court of Appeal decision can be found here, and the Court of King’s Bench decision here.
Berger Montague (Canada) PC attorneys Vincent DeMarco and Jonathan Bradford represented the proposed class of investors at the hearing. The appellate court upheld the lower court’s refusal to strike the claims, emphasizing that key issues—such as the timing of corrective disclosures and reliance—are properly addressed at later stages, including certification or trial.
Importantly, the court also affirmed that limitation periods applicable to class members were tolled upon the filing of the application for permission to proceed under the Securities Act, ensuring that additional representative plaintiffs could be included without being time-barred.
The appellate panel concluded that the claims—based on both statutory secondary market liability and common law negligent misrepresentation—arise from a consistent factual matrix and should proceed through the normal course of class action litigation.
Investors will now request to schedule an application for permission to proceed under the Securities Act and certification under the Class Proceedings Act and seek recovery for those who suffered losses due to Aurora’s misconduct.
Berger Montague is one of the nation’s preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. With more than $2.4 billion in 2025 post-trial judgments alone, the Firm is a leader in the fields of complex litigation, antitrust, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For over 55 years, Berger Montague has played leading roles in precedent-setting cases and has recovered over $50 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago; Malvern, PA; Minneapolis; San Diego; San Francisco; Toronto, Canada; Washington, D.C., and Wilmington, DE.
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