Cineplex Inc. (CPXGF)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Cineplex Inc. (“Cineplex” or the “Company”) (OTCMKTS: CPXGF). Investors who purchased Cineplex shares and have held as of June 12, 2020, are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Cineplex and certain of its officers and/or directors have violated federal securities laws.
Cineworld is the world’s second to largest cinema chain. In December 2019, Cineworld executed a C$2.8 billion contract to acquire Cineplex. Then, during the COVID-19 pandemic, the stock dropped to about $10 per share. In the summer of 2020, Cineworld terminated its acquisition agreement after it “became aware of breaches.” Cineplex then sued Cineworld for breach of contract. This week an Ontario court found Cineworld repudiated its transaction, resulting in a damage award of C$1.24 billion. Analyst Owen Shirley said Cineworld's equity is likely to become a "volatile option on the outcome of this trial for the foreseeable future."
If you are aware of any facts relating to this investigation or purchased Cineplex shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.