MediPharm Labs Faces Allegations of Credible Securities Fraud, Board Nominees Urged to Withdraw Amid Refusal to Answer Questions

MediPharm Labs has refused to answer direct questions regarding credible securities fraud allegations. Apollo Capital demands management's board nominees John Medland and Emily Jameson withdraw immediately or face public complicity. The firm urges shareholders to vote for Apollo Capital's six director nominees and disregard MediPharm Labs' green proxy card. Apollo Capital reiterates its call for an immediate, comprehensive investigation by regulatory authorities.

MediPharm Labs has been the subject of intense scrutiny following credible allegations of securities fraud. Apollo Technology Capital, one of the largest shareholders of MediPharm Labs, has issued an urgent warning to shareholders, regulators, and the public, demanding immediate action. The allegations allege that the company's Board of Directors and management team engaged in deliberate financial misfeasance and deceptive accounting practices, potentially exposing the company to serious legal and financial consequences [1].

Apollo Capital has received alarming reports from multiple highly credible and independent sources, implicating MediPharm Labs' Chairman, Chris Taves, in orchestrating schemes to intentionally overstate company revenues. Taves serves as both the Board Chair and the Audit Committee Chair, a curious arrangement that has raised further concerns [1]. The company's recent financial performance and refusal to answer shareholder questions have only added to the unease [2].

Apollo Capital has directly challenged each MediPharm Board member to publicly address these allegations openly and transparently. The firm has called for an immediate, robust investigation by regulatory authorities, including the Ontario Securities Commission, the Toronto Stock Exchange, and the U.S. Securities and Exchange Commission. Apollo Capital has also demanded that any management or Board members implicated in these serious allegations be suspended pending investigation outcomes [1].

In a recent press release, Apollo Capital reiterated its call for full disclosure, particularly emphasizing the need for transparency before MediPharm's Q1 earnings call. The firm has also urged shareholders to vote for its six director nominees and disregard MediPharm Labs' green proxy card. Apollo Capital remains committed to restoring transparency and protecting shareholder interests [2].

The current situation at MediPharm Labs underscores the importance of robust regulatory oversight and the need for companies to maintain high ethical standards. As the investigation progresses, investors will be closely watching the developments and the company's response to the allegations. For the integrity of the capital markets, it is crucial that all parties involved take immediate and decisive action to address these concerns.

References:
[1] https://finance.yahoo.com/news/apollo-capital-alleges-securities-fraud-130513122.html
[2] https://www.globenewswire.com/news-release/2025/05/29/3090403/0/en/Alleged-Securities-Fraud-at-MediPharm-Labs-Says-Apollo-Capital.html