Wayland and Maricann Investor Lawsuits Settled for $8 Million, Claims Deadline Set for August 20
- The settlement of multiple investor lawsuits against Wayland Group Corp. and Maricann Group Corp. is finalized, allowing eligible investors to claim part of an $8 million recovery.
- The settlement covers those who purchased shares, units, or warrants on or after December 13, 2017, and held them through August 2, 2019, excluding certain persons.
- The lawsuits, filed in Ontario Superior Court, alleged misrepresentations and nondisclosures concerning Wayland’s operations, including issues with its Langton production facility and former CEO Benjamin Ward; the defendants denied all wrongdoing.
- Investors must submit claim forms by August 20, 2026, to receive compensation; after deducting $2.4 million in legal fees and related costs, the remaining funds will be distributed to approved claimants by settlement administrator Berger Montague (Canada) PC.
The settlement of multiple investor lawsuits tied to Wayland Group Corp. and Maricann Group Corp. is now finalized, paving the way for eligible investors to file claims for a share of the $8 million recovery.
According to a court-approved notice issued April 1, the settlement applies to people and entities, other than excluded persons, who purchased or otherwise acquired common shares, units or warrants of Wayland Group Corp. and Maricann Group Corp. on or after December 13, 2017, and held some or all of those securities as of the close of trading on August 2, 2019.
The notice says the cases were brought in the Ontario Superior Court of Justice and involved allegations that the defendants made misrepresentations or failed to disclose material information about Wayland, its operations and financial condition. Those allegations included issues tied to the company’s production facility in Langton, Ontario, and its former chief executive officer, Benjamin Ward, during the period from December 13, 2017 through August 2, 2019.
The settling defendants denied the allegations and denied any wrongdoing or liability, but the settlement was approved by Justice Edward Morgan on March 19, 2026.
Under the deal, the settling defendants will cause CAD $8 million to be paid to resolve the claims. From that amount, the court approved class counsel fees of $2.4 million, plus disbursements and taxes. The remaining net settlement amount is set to be distributed among eligible class members under a court-approved plan of allocation.
Investors who want compensation must submit a completed claim form by August 20, 2026. The settlement administrator, Berger Montague (Canada) PC, will review claims, determine eligibility and distribute funds to approved class members.
Anyone who falls within the class definition and does not file a completed claim form by the deadline will not receive any portion of the net settlement amount.