Canopy Growth Receives Cease-Trade Order Over Past Accounting Error

Dow Jones05-29

By Adriano Marchese

Canopy Growth was granted a management cease-trade by Ontario's securities regulator after the company uncovered an accounting error in earlier earnings reports.

The Smith Falls, Ontario cannabis company on Friday said that the Ontario Securities Commission issued the cease-trade order, which became effective on Thursday, and will prohibit directors and officers from trading in the company's securities until it files the restated financial results.

Earlier in the month, Canopy said it had to restate two years of financial results after discovering an accounting error in the financial results for fiscal years 2025 and 2024, both ended on March 31 of their respective years.

The error Canopy found was a technical noncash accounting mistake where certain share-settled warrants with exercise U.S.-dollar denominated prices should have been classified as liabilities rather than equity instruments.

At the time, the company said the impact was expected to be limited to noncash accounting entries with no effect on core operating performance.

On Friday, Canopy said it intends to refile the financial statements in its fiscal 2026 annual report later in June.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 29, 2026 07:28 ET (11:28 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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