Around twenty complaints against Lion Électrique to the AMF

Around twenty complaints have been filed with the Financial Markets Authority (AMF) against Lion Électrique, which is drowning in debts of more than $700 million, we have learned. The Journal.

• Also read: Lion Électrique: a 90-year-old retiree lost more than $140,000

• Also read: Electric Lion: small investors are biting their fingers

“Since the return of the holidays, we have received around twenty complaints related to the Lion Électrique file. As provided for in our complaints processing process, we will analyze them,” Journal the spokesperson for the AMF, Sylvain Théberge.

“As filing a complaint with the AMF is a confidential process, we will not comment on the content or nature of these complaints. On the other hand, we neither confirm nor deny our investigations,” he adds.

Last Monday, The Journal told the story of a 90-year-old construction retiree who lost more than $140,000 in Lion’s fall. If the latter refused to throw stones at anyone, other small investors still have it in their throats.

“It gives the impression of a company that has taken a trip for years on the backs of taxpayers and investors,” denounced Geneviève Nadeau, an investor who believed in the success of the electric vehicle manufacturer.

Lion defends himself

At the end of December, Lion spokesperson Patrick Gervais reacted strongly to this group of small shareholders, who felt helpless in the face of the situation.

“In what context would we have had a lack of transparency?” he asked himself.

“Neither the CEO nor other management personnel at Lion Électrique made any “potentially misleading statements”,” he assured.

–Further details will follow.

What is a complaint to the AMF?

For the AMF, a complaint is what “remains after having been considered and processed at the competent operational level to render a decision”, namely:

• a reproach against the company;
• reporting potential or actual harm that a consumer has suffered or could suffer
• a request for corrective action.

(Source: l’AMF)