Class action motion filed against Montreal-based electronic payment systems company Nuvei, over allegations of “false information” in its recent announcement of a business association with actor-investor Ryan Reynolds, has been withdrawn by its instigator: a Montreal investor and small shareholder of Nuvei.
According to his lawyer, Joey Zukran, of the Montreal firm LPC, this discontinuance of the motion just a few days after its registration in the Superior Court of Quebec results from obtaining “objective evidence” of the investment and the shareholding of Ryan Reynolds to the share capital of Nuvei.
“Lawyers for Nuvei and Ryan Reynolds moved quickly to provide us with evidence of his investment in Nuvei stock. We thus have proof of the absence of fault committed” during the announcement of the business association between Nuvei and the actor-investor, explained the lawyer during a telephone interview with La Presse.
In its class action motion, filed shortly after the announcement of Nuvei with Ryan Reynolds on April 17, this Montreal investor alleged that “the press release issued by Nuvei leaves the false impression that (Ryan) Reynolds has indeed invested in Nuvei, whereas that in fact he did not invest a dollar in Nuvei, but was given shares of the company in the form of restricted stock units (RSUs) worth $25 million. »
The instigator of the petition also alleged that “the donation of RSUs is instead a payment made by Nuvei to Reynolds in exchange for Reynolds’ support of Nuvei and its stock market value, with posts on his social media and media appearances through interviews and commercials” which also features Philip Fayer, Chairman and CEO of Nuvei.
