Investor Alert: Berger Montague (Canada) PC encourages market participants to discuss Chesswood Group Limited

TORONTO, Sept. 18, 2024 /CNW/ - Berger Montague (Canada) PC, a Toronto-based law firm that focuses on representing investors in cross-border shareholder disputes, has expanded its investigation of Chesswood Group Limited (TSX: "CHW", USOTC "CHWWF"; and FRA: "Y30.F").

During late 2023, all appeared to be fine between investors and CHW.  However, CHW announced that the Board of Directors had created a Special Committee to review various aspects of the Company and it was in breach of certain debt covenants but failed to disclose this material fact to the markets. CHW's shares were trading at $7.90 per share. Today, CHW's shares are locked at $0.90, and, in Canada, unable to trade. CHW's shares on the US OTC market continue to trade and are now as low as $0.18.

During the past several months CHW has announced that it was in breach of debt covenants, would be forced to restate its financial statements but unclear as to how far back, and has sold off assets.  Since August 15, 2024, CHW's shares have been subject to a cease trade order issued by the Ontario Securities Commission because it would not release its 2Q 2024 financial statements.

If you purchased shares of Chesswood Group Limited between August 8, 2023 and July 22, 2024, and would like to know more about our investigation or have information to share, please contact us at [email protected].  

Berger Montague (Canada) PC is one of the leading Canadian law firms that represent investors in shareholder class actions involving Canadian companies that list their securities on stock exchanges located in Canada, Germany, and the United States.

SOURCE Berger Montague (Canada) PC

Questions may be directed to: Berger Montague (Canada) PC, 330 Bay Street, Suite 505, Toronto, ON M5H 2S8, Email: Andy Abramowitz [email protected] or Andrew Morganti at [email protected].