Kaskela Law LLC has filed a stockholder derivative and class action complaint on behalf of Tilray, Inc. and the company’s stockholders in the Delaware Court of Chancery (Case No. 2020-0137-KSJM).
The complaint alleges that Tilray’s directors breached their fiduciary duties to the Company and its stockholders by approving, among other things, a conflicted corporate reorganization.
On June 1, 2021, Chancellor McCormick denied defendants’ motions to dismiss the complaint. The Court’s Memorandum Opinion is available at Download.aspx (delaware.gov).
The case is currently in the discovery phase.