On April 14, the Ontario Securities Commission imposed a temporary trading halt on the company’s 11 ETFs.Melissa Tait/The Globe and Mail
Emerge Canada Inc., its U.S.-based counterpart and the CEO of both companies, Lisa Langley, are facing multiple lawsuits tied to their failed business.
Emerge and Ms. Langley face six suits from employees, governments, vendors and others in Ontario and New York State who say they haven’t been paid what they’re owed. The currently outstanding claims total more than $900,000. These have not been tested in court.
And a Toronto law firm has filed a proposed class-action lawsuit on behalf of investors who held Emerge’s Canadian exchange-traded funds, which regulators have ordered liquidated.
However, the legal trail for Ms. Langley goes back even longer. Lenders first sued her companies for unpaid bills as early as 2019,…
