Berger Montague Identified as Lead Counsel in Chesswood Group Ltd.’s Securities Class Action

FOR IMMEDIATE RELEASE

November 15, 2024

Toronto, Canada – Berger Montague (Canada) PC has been recognized as lead counsel in a securities class action to protect investors that purchased Chesswood Group Ltd.’s (“Chesswood”) securities within Chesswood’s Companies’ Creditors Arrangement Act court proceeding (the “CCAA Proceeding”).

“Based upon its inability to release its financial statements, admissions to restate previously released financial statements, and the Ontario Securities Commission’s affirmative orders to halt trading of its securities, Chesswood apparently misled its investors about its financial status correlated to its debt-covenants within senior secured debt covenants,” remarked Berger Montague (Canada)’s lawyer Andrew Morganti adding that, “we have been contacted by dozens of sophisticated investors that lost over 90% of their capital.”  The pleading advances causes of action under the Ontario Securities Act and common laws.

Chesswood is a holding company whose subsidiaries engage in the business of specialty finance (including equipment finance in the U.S. and vehicle finance and legal sector finance in Canada), as well as the origination and management of private credit alternatives for North American investors. For more information about this class action read more here. 

Berger Montague is one of the nation’s preeminent law firms focusing on class actions in the U.S. federal and state courts as well as Canada, Europe, and South America. The firm is active in the fields of antitrust, commercial litigation, consumer protection, defective products, environmental law, employment law, securities, and whistleblower cases, among many other practice areas. For more than 50 years, Berger Montague has played lead roles in precedent-setting cases and has recovered over $60 billion for its clients and the classes they have represented. Berger Montague is headquartered in Toronto, Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto (Ontario), and Washington (District of Columbia), and Wilmington, DE.

Contact:

Amy Wall-Monte

215.875.3021

awallmonte@bm.net

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Andrew Morganti

Shareholder

• amorganti@bm.net
• 202-948-4745