ASX-listed Cann Group has commenced civil proceedings in the High Court of the Hong Kong Special Administrative Region against a third party seeking to recover €2.25 million ($3.47 million) following a cyber security breach in February.
The medical cannabis company in late February said it did not have specific insurance coverage for a recent fraud attack, and that no funds had been recovered through the company’s bank.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
