An investigation for investors in Champignon Brands Inc. (OTC:SHRMF) shares over potential securities laws violations by Champignon Brands Inc. was announced.
San Diego, CA -- (SBWIRE) -- 04/08/2021 -- An investigation was announced concerning potential securities laws violations by Champignon Brands Inc. in connection with certain financial statements.
Investors who purchased shares of Champignon Brands Inc. (OTC: SHRMF), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether a series of statements by Champignon Brands Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
Canada based Champignon Brands Inc. cultivation, distribution, and proliferation of medicinal mushrooms and its derivatives in North America.
On February 17, 2021, Champignon Brands Inc. announced that "the Company has determined to withdraw and refile its condensed interim consolidated financial statements and management's discussion & analysis ('MD&A') for the three and six month periods ended March 31, 2020". Further, Champignon Brands Inc. stated that "management determined that the financial statements needed to be restated to correct the accounting for the Acquisitions as the assets do not meet the definition of intangible assets for the purposes of international financial reporting standards and as result will be recorded as transaction costs in the Company's statement of loss and comprehensive loss." The Company also announced that "it was determined that a shareholder and contracted consultant (the 'Consultant') of the Company was a related party with respect to the Acquisitions."
Those who purchased shares of Champignon Brands Inc. (OTC: SHRMF) have certain options and should contact the Shareholders Foundation.
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