#Class Action #Canada #Toronto #Settlement #Wayland Group

Settlement Approval Notice for Wayland Group Corp.

On April 1, 2026, the Ontario Superior Court proclaimed the approval of settlements regarding three distinct class action lawsuits associated with Wayland Group Corp. and its affiliates, marking a significant moment for those who invested in its securities between December 13, 2017, and August 2, 2019.

Overview of Class Actions

The class actions were initiated to represent individuals and entities, referred to as the 'Class Members,' who purchased or acquired common shares, units, and warrants of Wayland Group Corp. and Maricann Group Corp. during the specified period. The lawsuits were filed against multiple defendants, including Wayland Group Corp., Scott Langille, Gerhard Müller, Paul Pathak, Eric Silver, Michael Stein, John Does 1-3, Canaccord Genuity Corp., and RF Securities Clearing LP.

The main allegations centered around claims that these defendants had made false representations or neglected to disclose critical information about Wayland Group's operations and financial health, specifically regarding its production facility in Langton, Ontario. The accused denied all allegations of wrongdoing or liability throughout the legal proceedings.

Settlement Details

The court approved a settlement amount totaling CAD $8 million. From this figure, CAD $2.4 million will cover Class Counsel Fees, including any disbursements and taxes associated with the legal proceedings. After deducting these costs, the remaining amount will be allocated to eligible Class Members according to a Court-approved Plan of Allocation.

Class Members seeking to acquire their share of the settlement are required to submit a Claim Form prior to the deadline on August 20, 2026. This form can be accessed online or through direct contact with the settlement administrator, Berger Montague (Canada) PC. It is crucial that all necessary documentation is submitted in a timely manner, as failure to do so may result in losing the right to claim any part of the settlement.

Claim Submission Process

To make a claim for compensation, Class Members can visit www.bergermontague.com/cases/wayland-group-corp to access the Claim Form, or they can contact the administrator at 647-576-7840 for assistance. Claims must be processed through the secure Online Claims System, although paper claims can be submitted if internet access is unavailable.

Members of the Class will be bound by the Settlement Agreement's terms, even if they do not submit a Claim Form. Hence, it is highly recommended to act promptly to ensure eligibility for compensation.

Conclusion

This settlement marks an important chapter for stakeholders affected by the legal issues surrounding Wayland Group Corp. As the situation progresses, Class Members are encouraged to stay informed and participate in the settlement process to secure any potential recompense for their investments. Questions can be directed to Berger Montague's Toronto office, ensuring clarity and assistance in this matter.

This development underscores the significance of transparency in corporate communications and the vital role of the justice system in addressing grievances of investors seeking restitution after alleged corporate misrepresentations.