Theratechnologies Inc.
TSX : TH

Theratechnologies Inc.

April 17, 2015 10:07 ET

Supreme Court of Canada Rules in Favour of Theratechnologies

MONTREAL, CANADA--(Marketwired - April 17, 2015) - Theratechnologies Inc. (TSX:TH) announced today that the Supreme Court of Canada has granted its appeal and dismissed 121851 Canada Inc.'s motion for leave to commence an action based on the secondary market liability provisions of the Securities Act (Quebec) against Theratechnologies, one of its directors and a former president and chief executive officer.

The judgment reverses the July 17, 2013 decision of the Court of Appeal of Québec confirming the February 24, 2012 decision issued by the Superior Court of Quebec authorizing 121851 Canada Inc., the representative of persons who were shareholders on May 21, 2010 and who sold their common shares of the Company on May 25 or 26, 2010, to institute a class action against the Company, one of its directors and a former president and chief executive officer.

As a result of the Company's motion being allowed, 121851 Canada Inc. may no longer initiate class action proceedings against the Company, one of its directors and a former president and chief executive officer under the Securities Act (Québec). However, this decision does not impact the currently suspended civil law claim filed by 121851 Canada Inc. against Theratechnologies, one of its directors and a former president and chief executive officer based on the same facts and seeking the same conclusions as those sought under the class action lawsuit filed under the Securities Act (Québec).

Theratechnologies will not make any additional comments on the decision issued today by the Supreme Court of Canada.

About Theratechnologies

Theratechnologies (TSX:TH) is a specialty pharmaceutical company addressing unmet medical needs in metabolic disorders to promote healthy ageing and improved quality of life. Further information about Theratechnologies is available on the Company's website at www.theratech.com and on SEDAR at www.sedar.com.

Contact Information

  • Jocelyn Lafond
    Vice President, Legal Affairs, and Corporate Secretary
    514-843-2393