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On November 20, 2019, Siskinds LLP and Mathew P Good Law Corporation filed a proposed securities class action in the Supreme Court of British Columbia against Reliq Health Technologies Inc. (“Reliq”) (TSXV: RHT) and its current or former directors and/or officers, Lisa Crossley, Aman Thindal, Giancarlo De Lio, Eugene Beukman and Brian Storseth (“Action”).

Subject to the exclusion of certain defined “Excluded Persons”, the proposed class in the Action comprises (collectively, “Class Members”):

  • all persons and entities, wherever they may reside or be domiciled, who acquired Reliq securities during the period from and including February 23, 2018 to and including October 15, 2018; and
  • all persons and entities, wherever they may reside or be domiciled, who acquired units in Reliq’s private placement of 8,928,571 units at a price of $1.12 per unit that closed on or around January 9, 2018.

The Action arises out of alleged misrepresentations in Reliq’s disclosure documents pertaining to the number of paying patients using its iUGO Platform and its related financial results. It is alleged that the Class Members suffered damage as a result of the alleged misrepresentations. The Action alleges that the misrepresentations were corrected by a news release issued by Reliq on October 16, 2018. In that news release, Reliq disclosed, among other things, that it had decided to restate certain financial information reported for Q3 2018. Following that disclosure, the price of Reliq’s shares declined by approximately 58% during trading on the TSXV on October 16, 2018 from its closing price on the previous trading day.

The Plaintiff is seeking compensation for the losses suffered by the Class Members. The Plaintiff alleges that the Defendants are liable for those losses.

If you would like to be updated on developments in the Action, please click “Join” above and complete the form. Your information will be held in strict confidence. By completing the form, you are not retaining Siskinds LLP or Mathew P Good Law Corporation, nor do you incur any obligations in connection with the Action.

For inquiries, please complete the “Get in Touch” form below. For telephone inquiries, please call 1-800-461-6166.

Developments

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FAQs

What is a class action?

A class action is a lawsuit that is brought by one or more person on behalf of a larger group of people whose claims share common legal and/or factual issues. Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action. The court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions).

Do I have to pay anything to participate in the class action?

Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

Can I join the class action?

There are no steps required to “join” the class action. Unless you opted-out (excluded yourself from the class action), assuming you fall within the scope of the class definition, you are automatically included in the class action.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

Documents

There are no documents to view at this time.

There are no developments to view at this time.

What is a class action?

A class action is a lawsuit that is brought by one or more person on behalf of a larger group of people whose claims share common legal and/or factual issues. Class actions provide a cost-effective way for groups of people with common interests to pursue a legal claim.

What does “certification” mean?

Certification is the motion where the court determines whether the action can properly be pursued as a class action. The court will consider factors such as whether the claims of the class members raise common legal and/or factual issues and whether a class action is the preferable method of pursuing the claims (as opposed to other methods, such as individual actions).

Do I have to pay anything to participate in the class action?

Class action lawyers are usually paid on a contingency basis. This means that class counsel are only paid if successful. Class counsel are paid a percentage of any settlement or court award. Class counsel fees are subject to court approval.

Can I join the class action?

There are no steps required to “join” the class action. Unless you opted-out (excluded yourself from the class action), assuming you fall within the scope of the class definition, you are automatically included in the class action.

I still have a question. Who should I contact?

If you have any other questions, please complete the contact form below.

There are no documents to view at this time.

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