The legal cannabis industry unites in a class action against major Canadian banks

QUEBEC, Feb. 10, 2023 /CNW Telbec/ - Groupe SGF (Cannabis Legal Advisors and Consultants) announces the launch of a class action lawsuit on behalf of Mr. Gabriel Bélanger (Founder of Origami Extraction Inc.) against the Desjardins Federation, National Bank, Royal Bank, Bank of Montreal, TD Bank, and CIBC. The lawsuit alleges that the named banks have engaged in financial discrimination against actors in the legal cannabis industry in Canada.

The legal cannabis industry in Canada faces financial discrimination

For more information on the class action, please visit Groupe SGF's website.

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The plaintiff, Gabriel Bélanger, is determined to expose to the Superior Court all he has suffered as an actor of the legal cannabis industry in relation with the defendants. The main allegations involve denials of opening bank accounts, sudden closures of current bank accounts, and denials of access to various financial tools such as mortgage loans and credit lines for legal cannabis industry businesses.

Class Action: Justice for industry actors

The class action includes all individuals or corporations that, directly or indirectly, do business with the major defendant banks and who are involved in the legal cannabis industry since October 17th, 2018.

For more information on the class action, please visit Groupe SGF's website at https://groupesgf.ca/action-collectives-banques.

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"For far too long, Canadian banks have treated the cannabis industry like pariahs, as if it was still completely illegal. By doing so, they are depriving the Canadian, but especially the local economy of developing a promising market."

Me Maxime Guérin, Lawyer, Groupe SGF - Cannabis Legal Advisors and Consultants

About Groupe SGF - Cannabis Legal Advisors and Consultants and the Plaintiff

Groupe SGF is a Quebec law firm specializing in the cannabis industry. The company represents the interests of industry actors facing legal and financial challenges.

The plaintiff, Gabriel Bélanger, engineer, is the founder and main shareholder of Origami Extraction Inc., a cannabis micro-processing company located in Beauce.

SOURCE Groupe SGF – Conseillers juridiques et consultants en cannabis

Maxime Guérin, Lawyer, 418-476-2906 (dedicated line), 1-866-782-5910 (toll-free), [email protected]