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Dollarama, Inc.

Company NameDollarama, Inc.
Stock SymbolDLMAF

The investigation concerns whether Dollarama and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. On October 31, 2018, Spruce Point Capital Management published a report alleging "[q]uestionable accounting and governance practices [that] cast doubt on management and the underlying health of the business". Specifically, the report claimed that "[t]he Rossy family's tight control over management has led to the appearance of nepotism [and] questionable related-party real estate transactions"; that Dollarama's executive compensation structure "encourag[es] aggressive accounting and inefficient capital allocation that flatters the income statement"; and that "[m]anagement appears to use aggressive FX hedges and an off-balance-sheet relationship with a Central American retail affiliate to boost margins in a non-transparent way." On this news, shares of Dollarama fell $2.02 per share, or 7%, to close at $27.08 on October 31, 2018, thereby investors.

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