On August 6th, Emerald Health director and executive chairman Avtar Dhillon resigned from his roles. This happened the day after Mr Dhillon was arrested in the United States in relation to violations of US federal security laws regarding trading in certain US companies.
Emerald Health has released a statement regarding the situation. "On August 5th the company became aware that Dr. Avtar Dhillon had been arrested in the United States and charged with violations of US federal securities laws with respect to trading in certain US companies unrelated to Emerald. On August 6th Dr. Dhillon resigned from all roles with the company, as previously announced. On August 9th the Securities and Exchange Commission announced certain additional charges against Dr. Dhillon and certain other individuals not related to Emerald."
"None of the allegations in the charges against Dr. Dhillon or any of the other individuals charged mention any improper trading of Emerald securities and the company is not able to comment on the veracity of any of the allegations made against Dr. Dhillon or any of the other individuals charged. The company is not aware of any improper trading in Emerald securities and no allegations have been made against any other person associated with Emerald, including any of its officers or other directors. The company and its legal counsel are currently considering whether there are any additional steps they can take in the best interests of the company and its shareholders."
Emerald Health Therapeutics