Cases
The Supreme Cannabis Company, Inc.
Merger
Overview
Overview
- Date:
- 4/8/2021
- Company Name:
- The Supreme Cannabis Company, Inc.
- Stock Symbol:
- SPRWF
- Company Name - Buyer:
- Canopy Growth Corporation
- Stock Symbol - Buyer:
- CGC
- Status:
- Investigating
- Merger Announcement Date:
- 4/8/2021
NEW YORK, April 8, 2021 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of The Supreme Cannabis Company, Inc. (Other OTC: SPRWF) breached their fiduciary duties or violated the federal securities laws in connection with the company’s acquisition by Canopy Growth Corporation (NASDAQ: CGC).
On April 8, 2021, Supreme Cannabis announced that it had signed an agreement to be acquired by Canopy for approximately $435 million. Pursuant to the merger agreement, Supreme Cannabis stockholders will receive 0.01165872 shares of Canopy common stock for each share of Supreme Cannabis common stock owned. The deal is scheduled to close in June of 2021.
Bragar Eagel & Squire is concerned that Supreme Cannabis’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Supreme Cannabis’s stockholders.
On April 8, 2021, Supreme Cannabis announced that it had signed an agreement to be acquired by Canopy for approximately $435 million. Pursuant to the merger agreement, Supreme Cannabis stockholders will receive 0.01165872 shares of Canopy common stock for each share of Supreme Cannabis common stock owned. The deal is scheduled to close in June of 2021.
Bragar Eagel & Squire is concerned that Supreme Cannabis’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Supreme Cannabis’s stockholders.