Morganti & Co., an Ontario, Canada law firm that represents investors, instituted two proposed shareholder class actions against Wayland Group, Inc. (formerly known as Maricann Group, Inc.) (CSE: WAYL, FSE: 75M, OTC: MRRCF) on behalf of all investors that purchased Wayland's securities.
Investors are not required to contribute the financing of the costs associated with the class actions. Morganti & Co. is advancing all the litigation costs and will be reimbursed if there is a court approved resolution. Investors are encouraged to review the Firm's bespoke dedicated website to receive the most recent updates located at https://morgantico.com/wayland-group-corp/.
On May 4, 2022, the Quebec Superior Court of Justice granted authorization for Quebecois investors to advance their causes of action against Wayland. On August 26, 2022, the Ontario Superior Court of Justice granted the investors' motion to note Wayland and Benjamin A. Ward in default. The Ontario proceeding seeks to protect investors located globally that purchased Wayland's securities on the Canadian Securities Exchange, Frankfurt Stock Exchange, and U.S. OTC market. On September 12, 2022, the Ontario Superior Court of Justice recognized that Morganti & Co. was prepared to make further submissions for investors but that Wayland's insurance company requested a delay so as to allow it to be heard. Morganti & Co.'s submissions with evidence and the Court's Endorsement have been made available to investors at the Firm's litigation webpage.
Andrew Morganti, with over 20 years of experience representing shareholders, is reported as saying that, "It is shocking to read that even after Benjamin Ward was forced to resign for wrongdoing, MNP LLP properly called-out Wayland's Board of Directors; Wayland had the audacity to publish a statement on September 11, 2019, 'In commenting on a newspaper account by lawyers making a promotional announcement, Wayland observed that no claim of this nature has been served on the Company. If the proposed matter proceeds, the Company intends to defend the claim vigorously.' What promotional announcement? Rather, it is now known that Wayland was, in fact, served with 'the claim' days before its press release and the Company never defended the claim but defaulted and Wayland's former directors and officers were protected from a court ordered stay of litigation (shielded from litigation) until this past February."
If you purchased Wayland's securities between December 13, 2017, and April 23, 2019, you are encouraged to register on our Firm’s informational page for authorized updates of the Ontario and Quebec shareholder class actions. We want to know what information you relied upon in making the decision to purchase shares of Maricann and Wayland.
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About Morganti & Co. You may learn more about Morganti & Co. online at www.morgantico.com.
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