IMV Inc IMVIF

Misleading and forward-looking statements

[Breakthorough1]

"The class plaintiffs alleged that statements, including those claiming that production of the Model 3 was “on track,” and “coming in as expected, that there “were no issues,” and that 50 “production cars” had been made, were not protected by the safe harbor because they necessarily “contain embedded assertions concerning present facts that are actionable.”

Class plaintiffs argued the statements were false because two Tesla employees had told Mr. Musk the production deadline was impossible to meet.  The automated production line was delayed, and the few Model 3’s that had been produced had been made by hand.

The Ninth Circuit ruled in favor of Tesla, affirming dismissal of the case.  Statements made about production being “on track” to hit a certain goal are indeed forward-looking and covered by the safe harbor when couched in cautionary language. "

https://www.jdsupra.com/legalnews/shareholders-cannot-sue-corporate-5770202/

What about Canadian law?