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Organigram reached settlement in 2016 class-action lawsuit

(Business Wire) Toronto—East Coast LP, Organigram, has reached a proposed settlement in a previously disclosed class action related to the voluntary recall of medical cannabis that occurred in December 2016 and January 2017. The Supreme Court of Nova Scotia’s approved notice of the settlement was sent to class members beginning on June 24, 2022.

The company has agreed to pay an aggregate of over $2 million, previously accrued in the company’s financial statements for the prior fiscal year.

The court must then be satisfied that the settlement is fair, reasonable, and in the best interest of the class. On August 31, 2022, the court will hold a hearing to consider whether to approve the settlement.