CanniMed files $725 million lawsuit related to Aurora takeover bid

(Reuters) – Canadian medical marijuana company CanniMed Therapeutics Inc (CMED.TO) said on Friday it filed a lawsuit alleging multiple claims of wrongdoing and seeking $725 million in damages related to Aurora Cannabis Inc’s (ACB.TO) hostile takeover bid.

The lawsuit, filed in the Ontario Superior Court of Justice, alleges breach of confidentiality, intentional interference with economic relations, conversion, breach of contract and other allegations pursuant to the Securities Act (Ontario), CanniMed said in a statement.

Aurora launched a hostile takeover bid for CanniMed in November.

Aurora was not available to comment on the lawsuit outside regular business hours.

CanniMed alleges that Aurora, several shareholders, one current and one former board member participated in a “civil conspiracy” intended to injure the economic interests of CanniMed.

Reporting by Uday Sampath in Bengaluru; Editing by Leslie Adler

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